Zoom Video Communications Inc (ZM) Given Average Recommendation of “Strong Buy” by Brokerages

Zoom Video Communications Inc (NASDAQ:ZM) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus price objective of $60.00 for the company, according to Zacks. Zacks has also assigned Zoom Video Communications an industry rank of 63 out of 256 based on the ratings given to its competitors.

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities assumed coverage on Zoom Video Communications in a research report on Tuesday, April 30th. They issued a “neutral” rating and a $60.00 price objective for the company. Sanford C. Bernstein assumed coverage on Zoom Video Communications in a research report on Monday, April 29th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Summit Insights assumed coverage on Zoom Video Communications in a research report on Monday, April 22nd. They issued a “sell” rating for the company.

Shares of ZM traded down $4.95 during mid-day trading on Thursday, hitting $73.29. The company’s stock had a trading volume of 39,779 shares, compared to its average volume of 5,601,510. Zoom Video Communications has a one year low of $59.94 and a one year high of $80.79.

In related news, Director Carl M. Eschenbach sold 828,437 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $28,332,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Emergence Capital Partners Iii sold 912,026 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $31,191,289.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,405,918 shares of company stock valued at $83,480,215.

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.

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