Zoom Video Communications, Inc. (NASDAQ:ZM) Receives Consensus Rating of “Hold” from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $74.68.

A number of brokerages have weighed in on ZM. Wells Fargo & Company raised their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Morgan Stanley lowered their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Finally, Evercore ISI dropped their target price on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, May 21st.

Insider Activity

In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Aparna Bawa sold 11,060 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total transaction of $632,079.00. Following the completion of the sale, the chief operating officer now directly owns 12,310 shares in the company, valued at approximately $703,516.50. The disclosure for this sale can be found here. Insiders sold a total of 120,014 shares of company stock valued at $7,070,162 over the last three months. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at $763,000. Strategic Investment Solutions Inc. IL bought a new position in Zoom Video Communications in the 2nd quarter worth about $207,000. Dana Investment Advisors Inc. grew its holdings in Zoom Video Communications by 62.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 91,226 shares of the company’s stock valued at $5,400,000 after buying an additional 35,105 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Zoom Video Communications during the second quarter valued at about $296,000. Finally, Quarry LP lifted its holdings in shares of Zoom Video Communications by 72.9% in the second quarter. Quarry LP now owns 1,798 shares of the company’s stock worth $106,000 after buying an additional 758 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

ZM stock opened at $68.11 on Friday. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $74.77. The company has a market capitalization of $20.96 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 5.84 and a beta of -0.05. The company’s 50-day simple moving average is $62.12 and its 200 day simple moving average is $62.28.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, analysts forecast that Zoom Video Communications will post 2.69 EPS for the current year.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.