Zoom Video Communications, Inc. (NASDAQ:ZM) Receives Consensus Rating of “Hold” from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus recommendation of “Hold” from the twenty-five analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $87.10.

Several equities research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Benchmark raised their price target on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report 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 note on Tuesday, November 26th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares in the company, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 428,513 shares of company stock valued at $32,366,914 in the last 90 days. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker Avenue Asset Management LP boosted its holdings in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $763,000. HighTower Advisors LLC raised its holdings in Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after buying an additional 52,039 shares during the period. Robeco Institutional Asset Management B.V. lifted its position 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 last quarter. Finally, National Pension Service boosted its stake in Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM opened at $85.60 on Friday. The firm has a market capitalization of $26.24 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. The business’s 50-day moving average is $79.85 and its two-hundred day moving average is $68.59. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80.

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.