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

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $77.56.

Several equities analysts have commented on ZM shares. JPMorgan Chase & Co. dropped their price target on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Mizuho dropped their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, April 18th. Finally, Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 27th.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,931 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Shane Crehan sold 1,931 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,734.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,224 shares of company stock valued at $5,872,091. 11.28% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds and other institutional investors have recently bought and sold shares of ZM. California State Teachers Retirement System grew its stake in Zoom Video Communications by 2.6% in the 2nd quarter. California State Teachers Retirement System now owns 384,539 shares of the company’s stock worth $26,103,000 after acquiring an additional 9,614 shares during the period. National Bank of Canada FI grew its stake in shares of Zoom Video Communications by 21.4% during the 3rd quarter. National Bank of Canada FI now owns 92,385 shares of the company’s stock valued at $6,477,000 after buying an additional 16,256 shares during the period. Cyndeo Wealth Partners LLC grew its stake in shares of Zoom Video Communications by 6.2% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 4,241 shares of the company’s stock valued at $297,000 after buying an additional 246 shares during the period. International Assets Investment Management LLC grew its stake in shares of Zoom Video Communications by 12.8% during the 3rd quarter. International Assets Investment Management LLC now owns 9,906 shares of the company’s stock valued at $667,000 after buying an additional 1,126 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in shares of Zoom Video Communications by 50.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 64,414 shares of the company’s stock valued at $4,505,000 after buying an additional 21,711 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 0.2 %

Shares of NASDAQ ZM opened at $59.54 on Tuesday. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 29.19 and a beta of -0.07. Zoom Video Communications has a 52-week low of $58.87 and a 52-week high of $75.90. The business’s 50 day moving average is $64.72 and its two-hundred day moving average is $65.90.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Analysts anticipate that Zoom Video Communications will post 2.15 EPS for the current fiscal 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.