Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $87.81 Average PT from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given an average recommendation of “Hold” by the twenty-five brokerages that are currently covering the company, MarketBeat reports. Sixteen investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $89.10.

Several research firms recently issued reports on ZM. Mizuho lifted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein boosted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. UBS Group boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th.

Zoom Video Communications Stock Performance

Shares of ZM opened at $79.28 on Thursday. The firm has a market cap of $24.30 billion, a PE ratio of 26.43, a PEG ratio of 4.94 and a beta of -0.01. The firm’s 50 day moving average price is $82.67 and its 200 day moving average price is $72.10. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the sale, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 489,981 shares of company stock valued at $38,712,948. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently bought and sold shares of the business. Choreo LLC acquired a new position in shares of Zoom Video Communications during the second quarter worth approximately $200,000. American Century Companies Inc. raised its position in Zoom Video Communications by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock worth $4,113,000 after purchasing an additional 5,598 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Zoom Video Communications by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock worth $80,827,000 after buying an additional 264,217 shares in the last quarter. Primecap Management Co. CA boosted its position in Zoom Video Communications by 20.0% in the 2nd quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock valued at $75,794,000 after buying an additional 213,575 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $1,050,000. 66.54% of the stock is currently owned by institutional investors.

About Zoom Video Communications

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.