Zoom Video Communications, Inc. (NASDAQ:ZM) Given Consensus Recommendation of “Hold” by Brokerages

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus recommendation of “Hold” from the twenty-five analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $87.81.

A number of brokerages recently issued reports on ZM. Benchmark increased their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Piper Sandler upped their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus raised their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 35,722 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the sale, the chief executive officer now directly owns 57,371 shares in the company, valued at approximately $4,099,157.95. This trade represents a 38.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 488,628 shares of company stock valued at $38,301,299. Corporate insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Choreo LLC purchased a new position in shares of Zoom Video Communications during the 2nd quarter worth $200,000. American Century Companies Inc. boosted its stake in Zoom Video Communications by 8.8% during the second quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock worth $4,113,000 after buying an additional 5,598 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Zoom Video Communications by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after acquiring an additional 264,217 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Zoom Video Communications by 20.0% in the 2nd quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock valued at $75,794,000 after acquiring an additional 213,575 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $1,050,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 1.3 %

Zoom Video Communications stock opened at $80.26 on Thursday. The firm has a market cap of $24.60 billion, a PE ratio of 26.75, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The stock’s 50 day simple moving average is $83.05 and its two-hundred day simple moving average is $71.39.

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.