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

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have received a consensus rating of “Hold” from the twenty-five research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $87.10.

A number of equities analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Rosenblatt Securities restated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Finally, Bank of America raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th.

Insider Activity

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the company’s 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 $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The disclosure for this sale can be found here. Insiders have sold 428,513 shares of company stock worth $32,366,914 in the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently modified their holdings of ZM. Itau Unibanco Holding S.A. grew its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares in the last quarter. MML Investors Services LLC grew its holdings in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after purchasing an additional 145 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing 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% in the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after purchasing an additional 166 shares during the period. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $85.60 on Friday. The company’s fifty day moving average price is $79.85 and its 200-day moving average price is $68.59. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The firm has a market capitalization of $26.24 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 5.29 and a beta of -0.03.

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.