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

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been given an average recommendation of “Hold” by the twenty-four ratings firms that are currently covering the stock, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $90.05.

A number of research firms recently commented on ZM. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Mizuho lifted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold a total of 374,440 shares of company stock valued at $29,935,946 over the last ninety days. 10.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP lifted its stake in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares during the period. HighTower Advisors LLC lifted its stake in Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after buying an additional 52,039 shares during the period. Merit Financial Group LLC acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $1,072,000. Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications during the third quarter worth approximately $62,038,000. Finally, National Pension Service raised its position in shares of Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after purchasing an additional 151,728 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 0.2 %

ZM stock opened at $75.48 on Friday. The company has a market cap of $23.13 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The business has a 50-day simple moving average of $81.46 and a 200 day simple moving average of $77.25. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

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.