Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $74.68 Average PT from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given a consensus recommendation of “Hold” by the twenty-one brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $75.05.

Several analysts have weighed in on the company. UBS Group raised Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Wells Fargo & Company upped their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $70.85 on Tuesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $74.77. The firm has a market cap of $21.91 billion, a PE ratio of 26.44, a P/E/G ratio of 5.92 and a beta of -0.04. The firm’s 50 day moving average price is $65.14 and its two-hundred day moving average price is $62.42.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data 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. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Zoom Video Communications will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,206 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the transaction, the chief executive officer now directly 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 SEC, which is available through this hyperlink. In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,206 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 114,341 shares of the company’s stock, valued at $7,798,056.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Aparna Bawa sold 10,332 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $56.81, for a total value of $586,960.92. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $112,370.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,483 shares of company stock worth $8,442,442. 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 business. Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the last quarter. AQR Capital Management LLC raised its stake in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after purchasing an additional 2,579,720 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of Zoom Video Communications by 1.3% during the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other 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.