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

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned an average rating of “Hold” from the twenty-four brokerages that are presently covering the firm, MarketBeat Ratings reports. Fifteen analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $90.05.

ZM has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Benchmark reiterated a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 10,817 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock valued at $29,496,892 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. increased its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its position in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Zoom Video Communications in the fourth quarter valued at about $30,000. Finally, Colonial Trust Co SC acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at about $32,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $73.15 on Friday. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The stock has a fifty day moving average of $80.95 and a 200 day moving average of $77.67. The stock has a market cap of $22.42 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

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.