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

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given a consensus rating of “Hold” by the twenty-five analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $87.10.

A number of research firms have recently issued reports on ZM. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th.

Zoom Video Communications Stock Performance

ZM opened at $85.44 on Friday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a fifty day moving average of $81.18 and a two-hundred day moving average of $69.18. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 5.29 and a beta of -0.03.

Insider Buying and Selling at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total value of $603,398.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold a total of 428,513 shares of company stock valued at $32,366,914 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares in the last quarter. State Street Corp lifted its holdings in Zoom Video Communications by 2.3% in the 3rd 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 boosted its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after buying an additional 233,241 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after acquiring an additional 1,855,679 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.