Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $87.81 Consensus Price Target from Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been assigned an average recommendation of “Hold” from the twenty-five analysts that are currently covering the company, Marketbeat Ratings reports. Sixteen investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $89.10.

A number of research analysts have recently commented on ZM shares. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Cantor Fitzgerald assumed coverage on Zoom Video Communications in a report on Friday. They issued a “neutral” rating and a $87.00 price target on the stock. Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Bank of America lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th.

Zoom Video Communications Stock Down 1.7 %

ZM opened at $78.07 on Thursday. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a 50 day moving average of $82.98 and a two-hundred day moving average of $71.82. The company has a market cap of $23.93 billion, a P/E ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction that occurred on 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 filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total transaction of $938,000.00. Following the completion of the sale, the director now owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. The trade was a 89.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock valued at $38,712,948 over the last quarter. 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 modified their holdings of ZM. FMR LLC grew its stake in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares in the last quarter. State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares during the last quarter. AQR Capital Management LLC grew its position in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after purchasing an additional 184,518 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.