Analysts Set Zoom Video Communications, Inc. (NASDAQ:ZM) PT at $79.00

Shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Free Report) have been given an average recommendation of “Hold” by the nineteen brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $79.00.

ZM has been the subject of a number of recent research reports. Barclays lowered their price objective on Zoom Video Communications from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 21st. Stifel Nicolaus reiterated a “hold” rating and set a $70.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Finally, Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th.

Check Out Our Latest Analysis on ZM

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $63.69 on Thursday. The firm has a market cap of $19.39 billion, a P/E ratio of 87.25, a P/E/G ratio of 1.05 and a beta of -0.08. Zoom Video Communications has a fifty-two week low of $58.87 and a fifty-two week high of $85.13. The business’s 50 day moving average price is $69.51 and its 200-day moving average price is $67.67.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last issued its quarterly earnings data on Monday, November 20th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.21. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Zoom Video Communications had a return on equity of 4.93% and a net margin of 5.21%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. As a group, equities analysts predict that Zoom Video Communications will post 2.1 EPS for the current year.

Insider Activity

In other news, CAO Shane Crehan sold 4,480 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $68.34, for a total value of $306,163.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kelly Steckelberg sold 10,960 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $64.62, for a total value of $708,235.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Shane Crehan sold 4,480 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $68.34, for a total value of $306,163.20. The disclosure for this sale can be found here. Insiders have sold 94,409 shares of company stock worth $6,426,713 over the last ninety days. Corporate insiders own 11.28% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avory & Company LLC raised its position in Zoom Video Communications by 4.4% during the fourth quarter. Avory & Company LLC now owns 236,831 shares of the company’s stock valued at $17,031,000 after purchasing an additional 9,940 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Zoom Video Communications during the fourth quarter valued at approximately $787,000. Van ECK Associates Corp raised its position in Zoom Video Communications by 373.7% during the fourth quarter. Van ECK Associates Corp now owns 28,567 shares of the company’s stock valued at $2,054,000 after purchasing an additional 22,537 shares during the period. Intellectus Partners LLC raised its position in Zoom Video Communications by 18.3% during the fourth quarter. Intellectus Partners LLC now owns 11,574 shares of the company’s stock valued at $832,000 after purchasing an additional 1,790 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Zoom Video Communications by 9.3% during the fourth quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company’s stock valued at $19,677,000 after purchasing an additional 22,897 shares during the period. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

About Zoom Video Communications

(Get Free Report

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.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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