Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $87.81 Average PT from Analysts

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been assigned a consensus recommendation of “Hold” from the twenty-five brokerages that are currently covering the company, Marketbeat reports. Sixteen research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $89.10.

A number of research analysts have recently weighed in on ZM shares. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price target for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Benchmark increased their target price on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Morgan Stanley upped their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Finally, Bank of America lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $79.28 on Thursday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $24.30 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.94 and a beta of -0.01. The company’s 50 day simple moving average is $82.67 and its 200 day simple moving average is $72.10.

Insider Transactions at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the sale, the director now owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock worth $38,712,948 in the last three months. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of large investors have recently added to or reduced their stakes in ZM. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $39,000. Silver Lake Advisory LLC lifted its holdings in Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company’s stock valued at $3,291,000 after purchasing an additional 4,745 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in Zoom Video Communications during the 4th quarter valued at $251,000. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Finally, Dakota Wealth Management acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at $849,000. Institutional investors and hedge funds 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.