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 been given a consensus rating of "Hold" by the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $87.00.

Several equities analysts have recently commented on the company. Needham & Company LLC upgraded Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price for the company in a research note on Thursday, May 22nd. KeyCorp began coverage on Zoom Video Communications in a research note on Friday, June 6th. They set an "underweight" rating and a $73.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Barclays reduced their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Thursday, May 22nd.

Insider Activity

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, March 24th. The stock was 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 of the company's stock, valued at $13,193,532.72. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet Napolitano sold 2,617 shares of Zoom Video Communications stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director now directly owns 4,728 shares in the company, valued at approximately $363,015.84. The trade was a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,671 shares of company stock valued at $7,078,546. Company insiders own 11.51% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Asset Management One Co. Ltd. boosted its position in shares of Zoom Video Communications by 8.7% in 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 period. Proficio Capital Partners LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $966,000. PNC Financial Services Group Inc. boosted its position in Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after acquiring an additional 168 shares during the period. Principal Financial Group Inc. boosted its position in Zoom Video Communications by 768.1% during the 4th quarter. Principal Financial Group Inc. now owns 148,488 shares of the company's stock worth $12,118,000 after acquiring an additional 131,383 shares during the period. Finally, Van ECK Associates Corp boosted its position in Zoom Video Communications by 87.4% during the 4th quarter. Van ECK Associates Corp now owns 78,679 shares of the company's stock worth $6,421,000 after acquiring an additional 36,695 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 1.0%

Shares of NASDAQ:ZM opened at $76.63 on Friday. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a 50 day moving average of $77.64 and a two-hundred day moving average of $79.43. The company has a market capitalization of $23.18 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. Zoom Video Communications's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $1.35 earnings per share. On average, equities analysts anticipate that Zoom Video Communications will post 2.93 earnings per share for the current 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.

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