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

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned an average rating of “Hold” from the twenty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Fifteen investment analysts have rated the stock with a hold rating, eight have given 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 brokerages have issued reports on ZM. UBS Group dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley boosted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Benchmark reiterated a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the sale, the director now owns 169,452 shares of the company’s stock, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,746 shares of company stock valued at $29,689,595. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $751,908,000. Altshuler Shaham Ltd grew its holdings in shares of Zoom Video Communications by 285.9% in the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock worth $167,813,000 after purchasing an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Zoom Video Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock worth $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Zoom Video Communications in the fourth quarter worth $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new stake in Zoom Video Communications during the 4th quarter valued at $72,854,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $67.75 on Tuesday. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a 50 day moving average price of $79.13 and a two-hundred day moving average price of $78.42.

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.