Zoom Video Communications, Inc. (NASDAQ:ZM) Receives Average Recommendation of "Hold" from Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) have received a consensus rating of "Hold" from the twenty-four research firms that are presently covering the firm, Marketbeat.com reports. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $85.90.

ZM has been the subject of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Mizuho dropped their price target on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 245,372 shares of company stock worth $19,127,800 in the last 90 days. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC bought a new stake in Zoom Video Communications during the fourth quarter valued at about $1,072,000. Nordea Investment Management AB boosted its holdings in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock valued at $64,054,000 after buying an additional 521,778 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company's stock worth $63,031,000 after buying an additional 293,375 shares during the last quarter. Swedbank AB lifted its position in Zoom Video Communications by 96.3% during the fourth quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after acquiring an additional 40,351 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 8.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after purchasing an additional 7,518 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Trading Up 0.2 %

Shares of ZM traded up $0.13 during trading hours on Friday, reaching $76.16. 1,911,567 shares of the stock traded hands, compared to its average volume of 3,049,296. The company has a market cap of $23.25 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The company's 50-day moving average price is $74.20 and its two-hundred day moving average price is $78.75. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

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.