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

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given a consensus recommendation of “Hold” by the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $77.56.

Several research analysts have weighed in on ZM shares. BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research note on Thursday, January 18th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective on the stock. Mizuho dropped their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, Piper Sandler increased their price target on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $59.54 on Tuesday. The company has a market cap of $18.31 billion, a PE ratio of 29.19 and a beta of -0.07. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $75.90. The firm has a 50 day simple moving average of $64.72 and a 200 day simple moving average of $65.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. On average, equities analysts predict that Zoom Video Communications will post 2.15 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the sale, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the sale, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The disclosure for this sale can be found here. In the last three months, insiders sold 93,224 shares of company stock valued at $5,872,091. Company insiders own 11.28% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pearl River Capital LLC lifted its holdings in shares of Zoom Video Communications by 31.6% during the 3rd quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock worth $2,601,000 after acquiring an additional 8,928 shares during the period. California Public Employees Retirement System increased its position in shares of Zoom Video Communications by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after purchasing an additional 14,945 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Zoom Video Communications by 15.9% during the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,826 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC increased its position in shares of Zoom Video Communications by 25.4% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after purchasing an additional 66,433 shares in the last quarter. 66.54% of the stock is owned by 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.