Brokerages Set Zoom Video Communications Inc (NASDAQ:ZM) Price Target at $89.85

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Zoom Video Communications Inc (NASDAQ:ZM) has earned a consensus rating of “Hold” from the twenty-one analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $90.45.

A number of brokerages have recently weighed in on ZM. Oppenheimer began coverage on Zoom Video Communications in a research report on Friday, May 24th. They set a “market perform” rating for the company. Robert W. Baird began coverage on Zoom Video Communications in a research report on Monday. They set an “outperform” rating and a $100.00 price objective for the company. FBN Securities began coverage on Zoom Video Communications in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Zoom Video Communications from $113.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Stifel Nicolaus set a $90.00 price objective on Zoom Video Communications and gave the company a “hold” rating in a research report on Friday, September 6th.

ZM stock traded down $0.85 during trading on Friday, reaching $83.77. The company’s stock had a trading volume of 14,391 shares, compared to its average volume of 2,159,150. Zoom Video Communications has a 1 year low of $59.94 and a 1 year high of $107.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 4.00. The company has a fifty day moving average price of $89.87.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. The business had revenue of $145.80 million during the quarter, compared to analysts’ expectations of $130.55 million. The company’s revenue was up 95.7% on a year-over-year basis. On average, sell-side analysts forecast that Zoom Video Communications will post -0.06 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZM. US Bancorp DE bought a new stake in Zoom Video Communications in the second quarter worth about $30,000. Trustcore Financial Services LLC bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $31,000. Captrust Financial Advisors bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $36,000. HM Payson & Co. bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $53,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $59,000. Institutional investors own 9.06% of the company’s stock.

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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