Zoom Video Communications, Inc. (NASDAQ:ZM) Given Consensus Rating of "Hold" by Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) have received a consensus rating of "Hold" from the twenty-five analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $87.81.

ZM has been the subject of several analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Wedbush assumed coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an "outperform" rating and a $85.00 target price for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th.

Zoom Video Communications Trading Down 1.0 %

Shares of NASDAQ:ZM traded down $0.82 during trading on Thursday, reaching $79.44. The company's stock had a trading volume of 1,803,137 shares, compared to its average volume of 2,086,332. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The firm's 50 day simple moving average is $83.06 and its two-hundred day simple moving average is $71.45. The stock has a market capitalization of $24.35 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 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 $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares of the company's stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 488,628 shares of company stock valued at $38,301,299 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. State Street Corp lifted its holdings in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after buying an additional 134,559 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after buying an additional 233,241 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock valued at $320,177,000 after buying an additional 184,518 shares during the period. 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.