Zoom Video Communications (NASDAQ:ZM) Hits New 12-Month High - Time to Buy?

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $74.87 and last traded at $74.82, with a volume of 341322 shares traded. The stock had previously closed at $73.85.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Wedbush started coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an "outperform" rating and a $85.00 price target for the company. Stifel Nicolaus raised their price target on Zoom Video Communications from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, August 23rd. Finally, UBS Group raised shares of Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $75.32.

Zoom Video Communications Stock Performance

The business's 50-day moving average price is $68.77 and its 200 day moving average price is $63.03. The company has a market cap of $23.24 billion, a P/E ratio of 27.56, a P/E/G ratio of 6.26 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares of the company's stock, valued at $6,285,780. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares of the company's stock, valued at $6,285,780. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 35,722 shares of Zoom Video Communications stock in a transaction on Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the sale, the chief executive officer now directly owns 57,371 shares of the company's stock, valued at $4,099,157.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,477 shares of company stock valued at $12,842,978 over the last ninety days. 10.78% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth $33,000. Allworth Financial LP increased its holdings in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after buying an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $41,000. Finally, Versant Capital Management Inc boosted its position in shares of Zoom Video Communications by 1,257.7% during the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company's stock worth $57,000 after acquiring an additional 893 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

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.