Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $90.05 Average Price Target from Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) have been assigned an average rating of "Hold" from the twenty-four brokerages that are presently covering the firm, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $90.05.

Several research firms have recently issued reports on ZM. Evercore ISI raised Zoom Video Communications from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Barclays decreased their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Mizuho boosted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, Piper Sandler boosted their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th.

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Zoom Video Communications Price Performance

Shares of ZM stock traded down $2.51 during trading hours on Friday, reaching $73.47. The stock had a trading volume of 3,217,637 shares, compared to its average volume of 2,764,583. The firm has a 50-day simple moving average of $81.31 and a 200-day simple moving average of $77.61. The firm has a market capitalization of $22.52 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now owns 107,826 shares of the company's stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares of the company's stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,440 shares of company stock worth $29,935,946. 10.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently bought and sold shares of the business. Global X Japan Co. Ltd. raised its stake in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Video Communications during the 4th quarter worth about $30,000. Finally, Colonial Trust Co SC bought a new stake in Zoom Video Communications during the 4th quarter valued at approximately $32,000. 66.54% of the stock is owned by institutional investors and hedge funds.

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.