Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $75.32 Consensus Price Target from Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have earned a consensus rating of “Hold” from the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $75.32.

A number of research firms recently commented on ZM. Bank of America lowered their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, October 4th. Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th.

Zoom Video Communications Stock Up 1.6 %

Shares of ZM opened at $81.46 on Friday. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $81.57. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 6.87 and a beta of -0.05. The business’s 50 day moving average is $70.46 and its two-hundred day moving average is $64.07.

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

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold a total of 372,121 shares of company stock worth $27,095,467 in the last three months. 10.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZM. Primecap Management Co. CA boosted its position in shares of Zoom Video Communications by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company’s stock valued at $89,905,000 after purchasing an additional 8,625 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Zoom Video Communications during the third quarter worth approximately $443,000. Banque Cantonale Vaudoise grew its position in Zoom Video Communications by 22.2% in the third quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock worth $366,000 after buying an additional 956 shares during the last quarter. Quest Partners LLC grew its position in Zoom Video Communications by 28.2% in the third quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock worth $643,000 after buying an additional 2,029 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Zoom Video Communications by 1.3% during the 3rd quarter. Swiss National Bank now owns 743,300 shares of the company’s stock valued at $51,838,000 after acquiring an additional 9,400 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.