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

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have received a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $75.32.

A number of equities research analysts have issued reports on the stock. Wedbush assumed coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Stifel Nicolaus raised their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. Finally, Piper Sandler reduced their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $75.60 on Friday. The firm has a 50 day simple moving average of $69.63 and a 200-day simple moving average of $63.39. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $76.03. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 6.44 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at $113,610.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,977 shares of company stock worth $13,780,978 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the second quarter worth $33,000. Allworth Financial LP raised its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the second quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the second quarter valued at $41,000. Finally, Versant Capital Management Inc raised its holdings in Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after acquiring an additional 893 shares in the last quarter. 66.54% of the stock is 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.