Zoom Video Communications, Inc. (NASDAQ:ZM) Given Consensus Rating of “Hold” by Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) have received a consensus rating of “Hold” from the twenty-nine analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $91.04.

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Zoom Video Communications from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 23rd. Mizuho reiterated a “buy” rating and set a $100.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 28th. Wells Fargo & Company reduced their target price on shares of Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 22nd. Stifel Nicolaus reduced their target price on shares of Zoom Video Communications to $75.00 in a research note on Friday, March 3rd. Finally, Robert W. Baird reduced their target price on shares of Zoom Video Communications from $125.00 to $100.00 in a research note on Friday, November 18th.

Insider Buying and Selling at Zoom Video Communications

In other news, President Gregory Tomb sold 4,801 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $70.98, for a total transaction of $340,774.98. Following the completion of the sale, the president now directly owns 28,611 shares in the company, valued at $2,030,808.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Gregory Tomb sold 4,801 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $70.98, for a total transaction of $340,774.98. Following the completion of the sale, the president now directly owns 28,611 shares in the company, valued at $2,030,808.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 3,224 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $65.18, for a total value of $210,140.32. The disclosure for this sale can be found here. Insiders have sold 44,914 shares of company stock valued at $3,182,508 over the last three months. 11.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently bought and sold shares of ZM. Vanguard Group Inc. increased its position in Zoom Video Communications by 23.3% in the third quarter. Vanguard Group Inc. now owns 17,125,004 shares of the company’s stock worth $1,260,230,000 after buying an additional 3,241,291 shares during the period. Baillie Gifford & Co. increased its position in Zoom Video Communications by 12.3% in the third quarter. Baillie Gifford & Co. now owns 8,466,914 shares of the company’s stock worth $623,080,000 after buying an additional 929,812 shares during the period. Renaissance Technologies LLC increased its position in Zoom Video Communications by 21.3% in the third quarter. Renaissance Technologies LLC now owns 7,800,404 shares of the company’s stock worth $574,032,000 after buying an additional 1,371,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Zoom Video Communications by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,423,637 shares of the company’s stock worth $435,137,000 after buying an additional 82,339 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in Zoom Video Communications by 1.5% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 5,723,003 shares of the company’s stock worth $387,390,000 after buying an additional 83,538 shares during the period. 52.96% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $67.12 on Monday. The firm’s fifty day moving average price is $72.61 and its 200 day moving average price is $75.27. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 209.76, a price-to-earnings-growth ratio of 3.83 and a beta of -0.21. Zoom Video Communications has a 12 month low of $63.55 and a 12 month high of $127.37.

About Zoom Video Communications

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.