Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $75.32 Average PT from Brokerages

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned a consensus rating of “Hold” from the twenty-one analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $75.32.

A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Piper Sandler dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus lifted their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Finally, Bank of America dropped their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at $191,264.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now owns 1,514 shares of the company’s stock, valued at $113,610.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 880 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,557 shares of company stock worth $13,645,167 over the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications during the second quarter valued at approximately $763,000. Mirae Asset Global Investments Co. Ltd. raised its position in Zoom Video Communications by 9.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock valued at $30,171,000 after purchasing an additional 38,924 shares during the period. Klein Pavlis & Peasley Financial Inc. purchased a new stake in Zoom Video Communications during the third quarter valued at approximately $827,000. Andra AP fonden raised its position in Zoom Video Communications by 78.0% during the second quarter. Andra AP fonden now owns 238,700 shares of the company’s stock valued at $14,129,000 after purchasing an additional 104,600 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new stake in Zoom Video Communications during the third quarter valued at approximately $1,245,000. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Down 0.1 %

Shares of NASDAQ ZM opened at $75.54 on Friday. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 6.44 and a beta of -0.05. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $76.03. The stock’s 50-day moving average is $69.71 and its 200 day moving average is $63.56.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 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 analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. On average, analysts forecast that Zoom Video Communications will post 2.74 EPS for the current fiscal year.

About Zoom Video Communications

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.