Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $89.10 Consensus Target Price from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned an average recommendation of “Hold” from the twenty-five brokerages that are presently covering the stock, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $89.10.

A number of brokerages have recently issued reports on ZM. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Morgan Stanley raised their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein lifted their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th.

Zoom Video Communications Trading Down 0.9 %

Shares of ZM opened at $83.05 on Monday. The firm has a market cap of $25.45 billion and a PE ratio of 27.68. The company’s 50 day simple moving average is $83.29 and its 200-day simple moving average is $74.91. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock valued at $31,230,938 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its holdings in 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 purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares in the last quarter. Truvestments Capital LLC purchased a new position in Zoom Video Communications in the 3rd quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications in the 4th quarter valued at about $39,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.