Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) Price Target at $87.10

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus recommendation of “Hold” from the twenty-five analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $87.10.

A number of analysts have recently commented on the company. Mizuho boosted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. The Goldman Sachs Group increased their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sanford C. Bernstein raised their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus boosted their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $85.67 on Friday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. The stock’s fifty day moving average price is $80.19 and its 200 day moving average price is $68.79.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the sale, the insider now owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,513 shares of company stock valued at $32,366,914. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Large investors have recently made changes to their positions in the company. FMR LLC grew its position in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp boosted its stake in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares during the period. AQR Capital Management LLC grew its holdings in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. increased its position in 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 acquiring an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.