Analysts Set Zoom Video Communications, Inc. (NASDAQ:ZM) PT at $87.10

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have received a consensus rating of “Hold” from the twenty-five ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $87.10.

ZM has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Bank of America boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th.

Zoom Video Communications Stock Performance

Shares of ZM opened at $85.67 on Friday. The stock has a market capitalization of $26.26 billion, a P/E ratio of 28.56, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The company’s fifty day moving average is $80.19 and its two-hundred day moving average is $68.79.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 37,206 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the sale, the chief executive officer now owns 114,341 shares in the company, valued at approximately $7,798,056.20. This trade represents a 24.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,513 shares of company stock valued at $32,366,914. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in shares of Zoom Video Communications by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,073,102 shares of the company’s stock valued at $63,517,000 after purchasing an additional 29,894 shares during the last quarter. State of Michigan Retirement System grew its position in Zoom Video Communications by 22.7% during the second quarter. State of Michigan Retirement System now owns 145,066 shares of the company’s stock valued at $8,586,000 after acquiring an additional 26,800 shares during the period. Allspring Global Investments Holdings LLC grew its position in Zoom Video Communications by 702.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 167,622 shares of the company’s stock valued at $9,922,000 after acquiring an additional 146,721 shares during the period. Atomi Financial Group Inc. increased its stake in Zoom Video Communications by 7.0% during the second quarter. Atomi Financial Group Inc. now owns 5,164 shares of the company’s stock worth $306,000 after acquiring an additional 339 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications in the 2nd quarter worth about $41,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Video Communications

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.