Zoom Video Communications (ZM) Stock Rating Reaffirmed by Summit Insights

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Zoom Video Communications (NASDAQ:ZM)‘s stock had its “sell” rating reiterated by stock analysts at Summit Insights in a research report issued to clients and investors 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.

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

Shares of NASDAQ:ZM opened at $78.76 on Tuesday. Zoom Video Communications has a 52 week low of $59.94 and a 52 week high of $91.46.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 583,787 shares of Zoom Video Communications stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $36.00, for a total transaction of $21,016,332.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Janine Pelosi sold 81,668 shares of Zoom Video Communications stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $36.00, for a total transaction of $2,940,048.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,405,918 shares of company stock worth $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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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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