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

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have earned an average recommendation of “Hold” from the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $77.56.

A number of brokerages have recently issued reports on ZM. Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Zoom Video Communications in a research report on Tuesday. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target for the company. JPMorgan Chase & Co. reduced their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Mizuho reduced their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 4,480 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $68.34, for a total value of $306,163.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Shane Crehan sold 4,480 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $68.34, for a total transaction of $306,163.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The disclosure for this sale can be found here. Insiders sold a total of 67,075 shares of company stock worth $4,534,500 in the last three months. 11.28% of the stock is owned by insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares during the period. BlackRock Inc. increased its holdings in Zoom Video Communications by 4.5% during the 2nd quarter. BlackRock Inc. now owns 13,418,767 shares of the company’s stock valued at $910,866,000 after purchasing an additional 581,711 shares in the last quarter. ARK Investment Management LLC increased its holdings in Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after purchasing an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Zoom Video Communications by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after purchasing an additional 216,768 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after purchasing an additional 2,444,294 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $65.37 on Friday. The company’s 50-day simple moving average is $66.23 and its 200-day simple moving average is $66.79. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $75.90. The stock has a market capitalization of $20.11 billion, a PE ratio of 32.04 and a beta of -0.06.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. On average, sell-side analysts predict that Zoom Video Communications will post 2.15 earnings per share for the current year.

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.