Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $75.32 Average PT from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned an average recommendation of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $75.32.

Several research analysts have commented on the company. Piper Sandler reduced their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Robert W. Baird reduced their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Wedbush assumed coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $75.54 on Friday. The business’s 50 day moving average price is $69.71 and its 200-day moving average price is $63.56. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $76.03. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 6.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 10.77% and a net margin of 19.08%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Sell-side analysts predict that Zoom Video Communications will post 2.74 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 37,206 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the sale, the chief executive officer now owns 114,341 shares of the company’s stock, valued at $7,798,056.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the sale, the chief executive officer now owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 35,722 shares of Zoom Video Communications stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the sale, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,557 shares of company stock valued at $13,645,167 in the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Zoom Video Communications by 128.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,038 shares of the company’s stock valued at $722,000 after buying an additional 6,206 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Zoom Video Communications by 35.8% during the 1st quarter. Principal Financial Group Inc. now owns 21,785 shares of the company’s stock valued at $1,424,000 after buying an additional 5,742 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Zoom Video Communications by 136.2% during the 1st quarter. Van ECK Associates Corp now owns 67,470 shares of the company’s stock valued at $4,410,000 after buying an additional 38,903 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Zoom Video Communications by 181.4% during the 1st quarter. Private Advisor Group LLC now owns 13,503 shares of the company’s stock valued at $883,000 after buying an additional 8,704 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in shares of Zoom Video Communications by 8.4% during the 1st quarter. Mission Wealth Management LP now owns 12,822 shares of the company’s stock valued at $838,000 after buying an additional 998 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.