Shares of Zoom Video Communications Inc (NASDAQ:ZM) have been given an average recommendation of “Hold” by the twenty-four brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $88.53.
A number of research firms have recently weighed in on ZM. JPMorgan Chase & Co. raised their price target on shares of Zoom Video Communications from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Stephens reiterated an “overweight” rating and set a $115.00 price target on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Wells Fargo & Co increased their price objective on Zoom Video Communications from $75.00 to $95.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Morgan Stanley set a $75.00 price objective on Zoom Video Communications and gave the company a “hold” rating in a research note on Friday, August 30th. Finally, Zacks Investment Research lowered Zoom Video Communications from a “buy” rating to a “hold” rating in a report on Saturday, November 9th.
In other news, CMO Janine Pelosi sold 6,196 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $65.77, for a total transaction of $407,510.92. Also, CFO Kelly Steckelberg sold 11,067 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $65.60, for a total transaction of $725,995.20. Over the last ninety days, insiders sold 244,890 shares of company stock worth $16,881,574.
Institutional investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $660,000. Squarepoint Ops LLC raised its stake in shares of Zoom Video Communications by 28.0% in the third quarter. Squarepoint Ops LLC now owns 14,017 shares of the company’s stock valued at $1,068,000 after purchasing an additional 3,065 shares in the last quarter. Stifel Financial Corp acquired a new stake in Zoom Video Communications during the 3rd quarter worth $361,000. State Street Corp lifted its holdings in Zoom Video Communications by 145.0% during the third quarter. State Street Corp now owns 38,470 shares of the company’s stock worth $2,931,000 after acquiring an additional 22,770 shares in the last quarter. Finally, Banco Santander S.A. bought a new position in Zoom Video Communications during the third quarter worth about $201,000. 10.39% of the stock is owned by hedge funds and other institutional investors.
Shares of ZM traded up $0.07 during midday trading on Friday, reaching $70.09. 914,852 shares of the stock were exchanged, compared to its average volume of 1,576,809. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.06. Zoom Video Communications has a 12-month low of $59.94 and a 12-month high of $107.34. The firm has a 50 day simple moving average of $69.07 and a 200-day simple moving average of $83.60.
Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The firm had revenue of $145.80 million during the quarter, compared to analyst estimates of $130.55 million. The business’s quarterly revenue was up 95.7% compared to the same quarter last year. Equities research analysts forecast that Zoom Video Communications will post -0.03 EPS for the current fiscal year.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
Further Reading: Cost of Capital Explained
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