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

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given a consensus recommendation of “Hold” by the twenty-five analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $87.10.

A number of equities research analysts have weighed in on ZM shares. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Bank of America boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Mizuho upped their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th.

Insider Buying and Selling

In related news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 10,338 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the sale, the insider now directly owns 104,414 shares of the company’s stock, valued at $7,257,817.14. This represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 428,513 shares of company stock valued at $32,366,914 over the last ninety days. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Large investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the period. State Street Corp increased its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 78.5% during the second 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 period. Pacer Advisors Inc. boosted its position in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $83.82 on Friday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. The company’s 50 day simple moving average is $81.45 and its 200 day simple moving average is $69.37.

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.