Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) Price Target at $75.44

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given an average recommendation of “Hold” by the nineteen analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $75.44.

A number of analysts have recently commented on the company. Robert W. Baird cut their price target on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Rosenblatt Securities boosted their price target on Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Sanford C. Bernstein cut their price target on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a report on Tuesday, May 21st. Citigroup boosted their price target on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, Wells Fargo & Company cut their price target on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 21st.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the sale, the chief executive officer now owns 95,140 shares in the company, valued at $5,896,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 5,099 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total value of $321,084.03. The disclosure for this sale can be found here. Insiders have sold 103,093 shares of company stock worth $6,326,899 over the last 90 days. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in the company. Evoke Wealth LLC increased its stake in Zoom Video Communications by 3.5% during the 4th quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after acquiring an additional 172 shares during the period. Xponance Inc. increased its stake in Zoom Video Communications by 2.0% during the 4th quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after acquiring an additional 179 shares during the period. Cantor Fitzgerald L. P. increased its stake in shares of Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after purchasing an additional 197 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. Finally, Wynn Capital LLC increased its stake in shares of Zoom Video Communications by 3.3% in the 1st quarter. Wynn Capital LLC now owns 8,881 shares of the company’s stock valued at $581,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.5 %

NASDAQ:ZM opened at $58.63 on Friday. Zoom Video Communications has a 1 year low of $55.63 and a 1 year high of $75.90. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 8.95 and a beta of -0.05. The stock has a 50-day moving average price of $61.07 and a two-hundred day moving average price of $64.51.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Sell-side analysts forecast that Zoom Video Communications will post 2.43 earnings per share for the current year.

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.