Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) Price Target at $75.32

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-one analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $75.32.

ZM has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Friday, October 11th. Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on 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 cut their target price on Zoom Video Communications from $72.00 to $68.00 and set a "neutral" rating for the company in a research note on Wednesday, July 10th. Finally, UBS Group upgraded shares of Zoom Video Communications to a "hold" rating in a research note on Friday, July 26th.

Zoom Video Communications Stock Performance

Shares of ZM traded up $0.86 during trading hours on Friday, hitting $75.60. 1,973,480 shares of the company were exchanged, compared to its average volume of 2,652,609. The firm's 50 day moving average is $69.63 and its 200-day moving average is $63.42. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $76.03. The company has a market cap of $23.27 billion, a PE ratio of 27.10, a PEG ratio of 6.44 and a beta of -0.05.

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

Insider Buying and Selling at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the transaction, the director now owns 1,514 shares of the company's stock, valued at $113,610.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total transaction of $938,000.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,550 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company's stock, valued at $97,830.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,977 shares of company stock valued at $13,780,978. 10.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the 2nd quarter worth about $41,000. Allworth Financial LP boosted its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake 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 buying an additional 893 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.