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

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned an average rating of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $85.20.

ZM has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Mizuho increased their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday. Robert W. Baird cut their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Finally, UBS Group upped their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday.

Zoom Video Communications Stock Down 6.3 %

NASDAQ:ZM opened at $83.41 on Wednesday. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a fifty day simple moving average of $74.16 and a 200-day simple moving average of $65.89. The company has a market capitalization of $25.67 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 7.33 and a beta of -0.05.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 over the last quarter. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the business. Tri Ri Asset Management Corp purchased a new position in Zoom Video Communications in the 3rd quarter worth approximately $2,653,000. Sanctuary Advisors LLC boosted its stake in shares of Zoom Video Communications by 22.1% in the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after purchasing an additional 2,714 shares during the period. Hohimer Wealth Management LLC grew its holdings in Zoom Video Communications by 0.5% during the 3rd quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock valued at $3,455,000 after purchasing an additional 260 shares in the last quarter. Toronto Dominion Bank increased its stake in Zoom Video Communications by 32.1% during the 3rd quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock worth $2,229,000 after buying an additional 7,768 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.