Analysts Set Zoom Video Communications, Inc. (NASDAQ:ZM) Target Price at $75.10

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been given a consensus rating of “Hold” by the twenty-one analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $74.68.

A number of research firms have commented on ZM. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Piper Sandler decreased their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird dropped their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Finally, UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th.

Insider Activity

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Aparna Bawa sold 11,060 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $632,079.00. Following the completion of the sale, the chief operating officer now owns 12,310 shares of the company’s stock, valued at approximately $703,516.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.13. The disclosure for this sale can be found here. Insiders sold a total of 120,014 shares of company stock valued at $7,070,162 in the last ninety days. 10.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. grew its stake 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 buying an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the period. Norges Bank purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $164,224,000. Acadian Asset Management LLC raised 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 valued at $290,153,000 after purchasing an additional 1,855,679 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 1.3 %

ZM stock opened at $66.91 on Friday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $74.77. The stock has a 50-day moving average price of $62.52 and a 200-day moving average price of $62.33. The firm has a market cap of $20.69 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, analysts forecast that Zoom Video Communications will post 2.74 earnings per share for the current year.

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.