Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $86.33 Consensus Target Price from Analysts

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have received an average recommendation of “Hold” from the twenty-five analysts that are currently covering the firm, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $87.61.

ZM has been the topic of a number of research reports. Scotiabank boosted their price target on Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 16th. Stifel Nicolaus dropped their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Wall Street Zen upgraded Zoom Video Communications from a “buy” rating to a “strong-buy” rating in a report on Saturday. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Thursday. Finally, Mizuho dropped their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the sale, the director now directly owns 157,824 shares in the company, valued at $12,439,687.68. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 over the last 90 days. 11.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZM. Norges Bank bought a new stake in Zoom Video Communications during the fourth quarter worth $751,908,000. Altshuler Shaham Ltd lifted its stake in shares of Zoom Video Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Zoom Video Communications in the 4th quarter valued at $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new position in shares of Zoom Video Communications in the 4th quarter valued at $72,854,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Trading Down 3.4%

NASDAQ:ZM opened at $79.28 on Wednesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 5.48 and a beta of 0.79. The stock has a 50-day moving average price of $76.00 and a two-hundred day moving average price of $79.76.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Zoom Video Communications will post 2.93 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.