Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $86.33 Consensus Price Target from Analysts

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) has earned an average rating of "Hold" from the twenty-five brokerages that are covering the firm, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $87.61.

A number of equities research analysts have recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Zoom Video Communications in a research note on Thursday. Bank of America raised their price objective on shares of Zoom Video Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday. Scotiabank raised their price target on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. Finally, Citigroup cut their target price on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at $143,583.02. This represents a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 in the last 90 days. 11.51% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Merit Financial Group LLC acquired a new position in Zoom Video Communications during the fourth quarter valued at approximately $1,072,000. Swedbank AB raised its position in Zoom Video Communications by 96.3% in the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after buying an additional 40,351 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in 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 acquiring an additional 7,518 shares in the last quarter. Silver Lake Advisory LLC boosted its position in Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company's stock worth $3,291,000 after acquiring an additional 4,745 shares during the last quarter. Finally, Caprock Group LLC bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $288,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 3.4%

Shares of ZM traded down $2.79 during trading hours on Wednesday, reaching $79.28. The company's stock had a trading volume of 4,178,449 shares, compared to its average volume of 2,980,770. The company has a 50 day moving average of $76.06 and a two-hundred day moving average of $79.74. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The company's revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that Zoom Video Communications will post 2.93 EPS 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.