Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $89.33 Consensus Price Target from Brokerages

Zoom Video Communications, Inc. (NASDAQ:ZM) has been assigned an average recommendation of “Hold” from the twenty-four brokerages that are currently covering the company, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $89.33.

Several analysts have weighed in on ZM shares. Citigroup cut their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. UBS Group lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Barclays reduced their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th.

Insider Activity

In related news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock worth $29,689,595 in the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Zoom Video Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after buying an additional 246 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Zoom Video Communications during the fourth quarter worth approximately $30,000. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Down 7.5 %

NASDAQ:ZM opened at $67.75 on Tuesday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a 50-day moving average price of $79.13 and a 200-day moving average price of $78.42. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67.

Zoom Video Communications Company Profile

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.