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

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have earned a consensus rating of “Hold” from the twenty-four research firms that are covering the firm, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $86.33.

Several equities analysts recently issued reports on ZM shares. Barclays reduced their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Wells Fargo & Company dropped their price objective on Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $90.00 target price on shares of Zoom Video Communications in a research note on Thursday, May 8th.

Zoom Video Communications Stock Down 0.3%

Shares of NASDAQ ZM opened at $83.10 on Wednesday. The firm has a market capitalization of $25.36 billion, a P/E ratio of 27.70, a P/E/G ratio of 5.48 and a beta of 0.79. The stock’s 50-day simple moving average is $75.62 and its two-hundred day simple moving average is $79.69. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now owns 125,529 shares of the company’s stock, valued at $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the transaction, the director now directly owns 157,824 shares in the company, valued at approximately $12,439,687.68. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently bought and sold shares of the stock. Adero Partners LLC lifted its holdings in Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Zoom Video Communications by 6.7% during the first quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company’s stock worth $172,000 after buying an additional 143 shares during the period. Wynn Capital LLC lifted its holdings in Zoom Video Communications by 1.6% during the first quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock worth $752,000 after buying an additional 160 shares during the period. Principal Securities Inc. lifted its holdings in Zoom Video Communications by 26.9% during the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after buying an additional 166 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Zoom Video Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

About Zoom Video Communications

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.