Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) PT at $90.05

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have received a consensus recommendation of “Hold” from the twenty-four ratings firms that are currently covering the company, MarketBeat reports. Fifteen investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $90.05.

Several equities analysts have recently issued reports on ZM shares. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Scotiabank raised Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Barclays dropped their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley lifted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Mizuho increased their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $73.15 on Friday. The firm’s fifty day moving average is $80.95 and its two-hundred day moving average is $77.67. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at $2,730,779.07. This represents a 49.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in Zoom Video Communications by 33.5% in the 3rd quarter. US Bancorp DE now owns 2,983 shares of the company’s stock valued at $208,000 after purchasing an additional 749 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Zoom Video Communications by 20.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,085 shares of the company’s stock worth $215,000 after acquiring an additional 526 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Zoom Video Communications by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,595 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,800 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Zoom Video Communications by 1.7% in the 3rd quarter. Van ECK Associates Corp now owns 41,984 shares of the company’s stock valued at $3,045,000 after purchasing an additional 716 shares in the last quarter. Finally, National Pension Service lifted its position in shares of Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after purchasing an additional 151,728 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.