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

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have earned a consensus recommendation of “Hold” from the twenty-five analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, seven 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 covered the stock in the last year is $85.19.

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Piper Sandler increased their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley increased their target price on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $82.69 on Wednesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market capitalization of $25.45 billion, a PE ratio of 27.56, a P/E/G ratio of 5.51 and a beta of -0.05. The stock has a 50-day simple moving average of $75.22 and a 200 day simple moving average of $66.33.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 367,108 shares of company stock worth $26,796,191. Corporate insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently modified their holdings of ZM. Lazard Asset Management LLC increased its position in shares of Zoom Video Communications by 110.1% in the first quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock valued at $4,220,000 after acquiring an additional 33,835 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Zoom Video Communications in the first quarter valued at about $260,000. California State Teachers Retirement System increased its position in Zoom Video Communications by 1.7% during the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after buying an additional 6,630 shares during the last quarter. Tidal Investments LLC increased its position in Zoom Video Communications by 89.7% during the first quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock worth $2,246,000 after buying an additional 16,248 shares during the last quarter. Finally, Comerica Bank increased its position in Zoom Video Communications by 15.6% during the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after buying an additional 670 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.