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

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus rating of “Hold” from the nineteen brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $75.44.

ZM has been the subject of a number of recent analyst reports. Sanford C. Bernstein reduced their target price on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Citigroup raised their price target on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Stifel Nicolaus dropped their price target on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, May 21st. Morgan Stanley dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Finally, Jefferies Financial Group assumed coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective for the company.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $59.19 on Friday. Zoom Video Communications has a one year low of $55.63 and a one year high of $75.90. The company has a market cap of $18.31 billion, a PE ratio of 22.09, a P/E/G ratio of 8.97 and a beta of -0.01. The business has a 50-day simple moving average of $61.20 and a 200-day simple moving average of $64.78.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. On average, sell-side analysts predict that Zoom Video Communications will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Santiago Subotovsky sold 1,100 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.38, for a total transaction of $71,918.00. Following the transaction, the director now directly owns 154,459 shares of the company’s stock, valued at $10,098,529.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $63.39, for a total value of $317,393.73. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 1,100 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $65.38, for a total value of $71,918.00. Following the completion of the transaction, the director now directly owns 154,459 shares in the company, valued at $10,098,529.42. The disclosure for this sale can be found here. Insiders sold a total of 109,200 shares of company stock valued at $6,716,211 over the last three months. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the period. Frazier Financial Advisors LLC bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $32,000. Rakuten Securities Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $43,000. Finally, GAMMA Investing LLC bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $48,000. Institutional investors own 66.54% of the company’s stock.

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.