Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) PT at $89.10

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus rating of “Hold” from the twenty-five research firms that are currently covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $89.10.

A number of equities analysts have commented on ZM shares. Benchmark lifted their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group 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 report on Tuesday, November 26th. Sanford C. Bernstein raised their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Mizuho raised their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald assumed coverage on shares of Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 target price for the company.

Zoom Video Communications Stock Performance

ZM opened at $83.05 on Monday. The stock has a market capitalization of $25.45 billion and a price-to-earnings ratio of 27.68. The company has a fifty day moving average of $83.29 and a 200 day moving average of $74.91. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock valued at $31,230,938 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC increased its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the last quarter. Truvestments Capital LLC purchased a new position in Zoom Video Communications in the third quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications in the fourth quarter valued at approximately $39,000. 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.