Analysts Set Zoom Video Communications, Inc. (NASDAQ:ZM) Target Price at $75.22

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given a consensus rating of “Hold” by the nineteen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $75.22.

A number of analysts recently weighed in on ZM shares. Robert W. Baird cut their price target on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Citigroup lifted their price target on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Wells Fargo & Company lowered their price objective on shares of Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, June 21st. Sanford C. Bernstein reduced their target price on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a report on Tuesday, May 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, May 21st.

Zoom Video Communications Trading Up 0.4 %

Shares of NASDAQ ZM opened at $60.32 on Thursday. Zoom Video Communications has a 1 year low of $55.63 and a 1 year high of $75.90. The firm’s 50-day moving average is $59.62 and its 200-day moving average is $62.94. The firm has a market capitalization of $18.66 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 9.22 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts anticipate that Zoom Video Communications will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total value of $317,243.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Aparna Bawa sold 10,332 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $56.81, for a total value of $586,960.92. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $112,370.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,636 shares of company stock worth $7,242,839. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Securities Inc. bought a new position in Zoom Video Communications during the fourth quarter worth about $25,000. Quadrant Capital Group LLC grew its holdings in Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Frazier Financial Advisors LLC bought a new position in Zoom Video Communications during the fourth quarter worth about $32,000. Innealta Capital LLC bought a new position in Zoom Video Communications during the second quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Zoom Video Communications during the second quarter worth about $36,000. Institutional investors own 66.54% of the company’s stock.

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.