Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) Price Target at $77.56

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) have earned a consensus rating of "Hold" from the eighteen analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $77.56.

A number of equities research analysts have commented on ZM shares. JPMorgan Chase & Co. decreased their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 27th. Jefferies Financial Group began coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a "hold" rating and a $70.00 price target for the company. Mizuho cut their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Wells Fargo & Company downgraded shares of Zoom Video Communications from an "equal weight" rating to an "underweight" rating and set a $70.00 price target for the company. in a report on Wednesday, December 20th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $75.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, March 26th.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 27,963 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the transaction, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eric S. Yuan sold 27,963 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the sale, the chief executive officer now owns 95,140 shares of the company's stock, valued at $5,896,777.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 19,207 shares of the business's stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $67.00, for a total value of $1,286,869.00. Following the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at $132,526. The disclosure for this sale can be found here. Insiders sold 85,456 shares of company stock valued at $5,539,710 over the last 90 days. Corporate insiders own 11.28% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Zoom Video Communications by 128.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,038 shares of the company's stock valued at $722,000 after buying an additional 6,206 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Zoom Video Communications during the 1st quarter worth approximately $1,075,000. FCF Advisors LLC boosted its position in Zoom Video Communications by 19.3% during the 1st quarter. FCF Advisors LLC now owns 15,604 shares of the company's stock worth $1,020,000 after acquiring an additional 2,524 shares during the period. Guinness Asset Management LTD grew its position in Zoom Video Communications by 6.4% during the first quarter. Guinness Asset Management LTD now owns 293,353 shares of the company's stock valued at $19,183,000 after purchasing an additional 17,531 shares in the last quarter. Finally, Wynn Capital LLC increased its stake in shares of Zoom Video Communications by 3.3% in the first quarter. Wynn Capital LLC now owns 8,881 shares of the company's stock worth $581,000 after acquiring an additional 284 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Down 1.6 %

ZM traded down $0.96 during midday trading on Tuesday, hitting $59.28. 2,240,482 shares of the company traded hands, compared to its average volume of 3,348,535. The company's 50-day moving average is $65.21 and its 200 day moving average is $66.19. The firm has a market capitalization of $18.23 billion, a PE ratio of 29.32 and a beta of -0.07. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $75.90.

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

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.