Zoom Video Communications, Inc. (NASDAQ:ZM) Receives $85.20 Average Target Price from Brokerages

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been given a consensus rating of “Hold” by the twenty-four brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $85.19.

A number of research firms recently commented on ZM. Sanford C. Bernstein lifted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. UBS Group raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $82.69 on Wednesday. The business has a 50-day moving average of $75.22 and a 200-day moving average of $66.30. The company has a market capitalization of $25.45 billion, a PE ratio of 27.56, a P/E/G ratio of 5.69 and a beta of -0.05. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Insiders Place Their Bets

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. This trade represents a 51.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,108 shares of company stock worth $26,796,191. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp lifted its stake in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. Institutional investors and hedge funds 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.