Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $85.20 Average Target Price from Analysts

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been assigned an average recommendation of “Hold” from the twenty-four ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $85.19.

ZM has been the topic of several recent analyst reports. Benchmark lifted their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. 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 Tuesday.

Insider Buying and Selling at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. This represents a 89.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the stock. Baker Avenue Asset Management LP lifted its holdings in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares during the period. Sanctuary Advisors LLC acquired a new position in Zoom Video Communications in the second quarter valued at approximately $763,000. Robeco Institutional Asset Management B.V. lifted its holdings in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after buying an additional 167,618 shares during the period. National Pension Service lifted its holdings in Zoom Video Communications by 30.1% in the third quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after buying an additional 151,728 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications in the third quarter valued at approximately $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Shares of ZM opened at $82.69 on Wednesday. The company has a market capitalization of $25.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 5.69 and a beta of -0.05. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The company’s fifty day moving average price is $75.22 and its 200 day moving average price is $66.30.

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.