Zoom Video Communications, Inc. (NASDAQ:ZM) Given Consensus Recommendation of “Hold” by Brokerages

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus rating of “Hold” from the twenty-three analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $85.20.

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a research note on Tuesday. Benchmark lifted their price target on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $83.41 on Wednesday. The business has a fifty day moving average price of $74.16 and a 200 day moving average price of $65.89. The company has a market cap of $25.67 billion, a P/E ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last 90 days. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. increased its holdings in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares in the last quarter. MML Investors Services LLC grew its position in Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the period. MetLife Investment Management LLC increased its holdings in Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after buying an additional 154 shares in the last quarter. Finally, Menard Financial Group LLC lifted its position in shares of Zoom Video Communications by 4.0% during the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock valued at $302,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds 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.