Shares of Zoom Video Communications Inc (NASDAQ:ZM) have received a consensus rating of “Hold” from the twenty-four research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $88.53.
A number of analysts have issued reports on the company. Bank of America lifted their price target on Zoom Video Communications from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, September 6th. FBN Securities initiated coverage on shares of Zoom Video Communications in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $85.00 price target on the stock. Stifel Nicolaus set a $90.00 price objective on shares of Zoom Video Communications and gave the stock a “hold” rating in a report on Friday, September 6th. Guggenheim initiated coverage on shares of Zoom Video Communications in a report on Friday, November 22nd. They issued a “buy” rating and a $90.00 target price for the company. Finally, Citigroup dropped their price objective on Zoom Video Communications from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, October 18th.
NASDAQ ZM traded up $0.07 during trading hours on Friday, reaching $70.09. The company had a trading volume of 914,852 shares, compared to its average volume of 1,576,809. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $69.07 and a 200 day moving average of $83.60. Zoom Video Communications has a 1-year low of $59.94 and a 1-year high of $107.34.
Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. The company had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $130.55 million. The firm’s quarterly revenue was up 95.7% on a year-over-year basis. On average, sell-side analysts anticipate that Zoom Video Communications will post -0.03 earnings per share for the current year.
In other Zoom Video Communications news, CAO Roy Benhorin sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $70.05, for a total value of $7,005,000.00. Also, CMO Janine Pelosi sold 13,046 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $74.18, for a total transaction of $967,752.28. Following the completion of the sale, the chief marketing officer now owns 306,594 shares in the company, valued at $22,743,142.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,890 shares of company stock worth $16,881,574.
Several institutional investors and hedge funds have recently bought and sold shares of ZM. Millennium Management LLC acquired a new stake in Zoom Video Communications in the 3rd quarter worth about $660,000. Squarepoint Ops LLC grew its holdings in Zoom Video Communications by 28.0% in the third quarter. Squarepoint Ops LLC now owns 14,017 shares of the company’s stock valued at $1,068,000 after purchasing an additional 3,065 shares during the period. Stifel Financial Corp purchased a new stake in Zoom Video Communications in the third quarter valued at approximately $361,000. State Street Corp increased its position in Zoom Video Communications by 145.0% during the third quarter. State Street Corp now owns 38,470 shares of the company’s stock worth $2,931,000 after purchasing an additional 22,770 shares during the last quarter. Finally, Banco Santander S.A. acquired a new position in Zoom Video Communications during the third quarter worth approximately $201,000. 10.39% of the stock is currently owned by institutional investors and hedge funds.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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