Zoom Video Communications (ZM) Given Sell Rating at Summit Insights

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “sell” rating reissued by investment analysts at Summit Insights in a research note issued on Tuesday, Zacks.com reports. Summit Insights also issued estimates for Zoom Video Communications’ Q1 2020 earnings at $0.01 EPS, Q2 2020 earnings at $0.02 EPS, Q3 2020 earnings at $0.00 EPS, Q4 2020 earnings at $0.00 EPS, FY2020 earnings at $0.03 EPS and FY2021 earnings at $0.05 EPS.

Other research analysts also recently issued research reports about the company. Bank of America started coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a “buy” rating and a $89.00 price objective for the company. Morgan Stanley started coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued an “equal weight” rating and a $75.00 price objective for the company. Stifel Nicolaus started coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a “hold” rating and a $75.00 price objective for the company. JMP Securities started coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a “market perform” rating and a $79.63 price objective for the company. Finally, Wells Fargo & Co started coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a “market perform” rating and a $75.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Zoom Video Communications has an average rating of “Hold” and an average price target of $76.82.

Shares of NASDAQ ZM opened at $78.76 on Tuesday. Zoom Video Communications has a 12 month low of $59.94 and a 12 month high of $91.46.

In other Zoom Video Communications news, major shareholder Emergence Capital Partners Iii sold 912,026 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total transaction of $31,191,289.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carl M. Eschenbach sold 828,437 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 2,405,918 shares of company stock worth $83,480,215 over the last quarter.

About Zoom Video Communications

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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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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