Analysts Set Zoom Video Communications Inc (NASDAQ:ZM) PT at $85.26

Zoom Video Communications Inc (NASDAQ:ZM) has been given a consensus rating of “Hold” by the eighteen brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $85.26.

A number of brokerages have recently weighed in on ZM. Summit Insights reissued a “sell” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. JPMorgan Chase & Co. began coverage on shares of Zoom Video Communications in a report on Monday, May 13th. They set an “overweight” rating and a $113.00 price objective on the stock. Goldman Sachs Group lowered shares of Zoom Video Communications from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $53.00 to $66.00 in a report on Sunday, June 30th. JMP Securities began coverage on shares of Zoom Video Communications in a report on Monday, May 13th. They set a “market perform” rating and a $79.63 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 7th.

NASDAQ ZM traded down $1.44 on Friday, hitting $93.66. The stock had a trading volume of 1,115,842 shares, compared to its average volume of 2,091,017. The business has a fifty day moving average of $95.00. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06. Zoom Video Communications has a 52-week low of $59.94 and a 52-week high of $107.34.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $111.66 million. The firm’s quarterly revenue was up 103.1% compared to the same quarter last year. As a group, sell-side analysts predict that Zoom Video Communications will post -0.14 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Trustcore Financial Services LLC acquired a new position in Zoom Video Communications during the second quarter valued at $31,000. Toth Financial Advisory Corp acquired a new position in Zoom Video Communications during the second quarter valued at $59,000. Westpac Banking Corp acquired a new position in Zoom Video Communications during the second quarter valued at $199,000. Intl Fcstone Inc. acquired a new position in Zoom Video Communications during the second quarter valued at $202,000. Finally, Meridian Wealth Management LLC acquired a new position in Zoom Video Communications during the second quarter valued at $212,000. Institutional investors own 0.08% of the company’s stock.

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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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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