Analysts Set Zoom Video Communications, Inc. (NASDAQ:ZM) Price Target at $77.56

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been given a consensus recommendation of “Hold” by the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $77.56.

Several equities analysts have recently weighed in on ZM shares. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Piper Sandler raised their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Finally, BNP Paribas cut Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a report on Thursday, January 18th.

Zoom Video Communications Trading Up 1.5 %

Shares of Zoom Video Communications stock opened at $59.94 on Tuesday. The company has a market capitalization of $18.44 billion, a PE ratio of 29.38 and a beta of -0.07. Zoom Video Communications has a 12 month low of $58.87 and a 12 month high of $75.90. The stock’s fifty day simple moving average is $64.95 and its 200 day simple moving average is $66.03.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Analysts predict that Zoom Video Communications will post 2.15 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,931 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zoom Video Communications news, CAO Shane Crehan sold 1,931 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 27,963 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the sale, the chief executive officer now directly owns 95,140 shares in the company, valued at approximately $5,896,777.20. The disclosure for this sale can be found here. Insiders have sold 66,249 shares of company stock valued at $4,252,841 over the last three months. 11.28% of the stock is owned by insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently modified their holdings of ZM. Renaissance Technologies LLC grew its stake in shares of Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after purchasing an additional 2,444,294 shares during the last quarter. Norges Bank acquired a new position in Zoom Video Communications in the fourth quarter valued at $164,224,000. Acadian Asset Management LLC lifted its holdings in Zoom Video Communications by 639.9% in the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after buying an additional 1,408,908 shares during the period. Vanguard Group Inc. lifted its holdings in Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after buying an additional 1,000,005 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after buying an additional 781,663 shares during the period. 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.