Stocks of Zoom Video Communications Inc. (NASDAQ:ZM) traded higher last session on Wall Street, up 0.98% to $74.00.
According to the data, Zoom Video Communications Inc. (NASDAQ:ZM) has 34 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $105.00 and a low of $66.00, we find $79.00. Given the previous closing price of $73.28, this indicates a potential upside of 7.81 percent. ZM stock price is now 7.28% away from the 50-day moving average and 5.91% away from the 200-day moving average. The market capitalization of the company currently stands at $22.06B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
A total of 25 analysts have issued a hold rating and 6 have given it a buy rating. Brokers who have rated the stock have averaged $82.17 as their price target over the next twelve months.
With the price target maintained at $85, MoffettNathanson recently Upgraded its rating from Underperform to Market Perform for Zoom Video Communications Inc. (NASDAQ: ZM).
In other news, Steckelberg Kelly, Chief Financial Officer sold 10,960 shares of the company’s stock on Aug 29. The stock was sold for $749,363 at an average price of $68.37. Upon completion of the transaction, the Chief Financial Officer now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23, Chief Financial Officer Steckelberg Kelly sold 10,960 shares of the business’s stock. A total of $748,490 was realized by selling the stock at an average price of $68.29. Insiders disposed of 372,304 shares of company stock worth roughly $27.55 million over the past 1 year. A total of 9.17% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ZM stock. A new stake in Zoom Video Communications Inc. shares was purchased by CONTRARIUS INVESTMENT MANAGEMENT LTD during the first quarter worth $67,329,000. CLOUDALPHA CAPITAL MANAGEMENT LIMITED/HONG KONG invested $54,087,000 in shares of ZM during the first quarter. In the first quarter, CLEAR STREET LLC acquired a new stake in Zoom Video Communications Inc. valued at approximately $22,200,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in ZM for approximately $11,551,000. GRIMES & COMPANY, INC. purchased a new stake in ZM valued at around $11,360,000 in the second quarter. In total, there are 972 active investors with 64.30% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $73.00 for Zoom Video Communications Inc. (NASDAQ: ZM). During the past 12 months, Zoom Video Communications Inc. has had a low of $60.45 and a high of $89.67. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.00, and a quick ratio of 4.00. The fifty day moving average price for ZM is $69.13 and a two-hundred day moving average price translates $69.83 for the stock.
The latest earnings results from Zoom Video Communications Inc. (NASDAQ: ZM) was released for Jul, 2023. According to the Software – Application Company, earnings per share came in at $1.34, beating analysts’ expectations of $1.05 by 0.29. This compares to $0.15 EPS in the same period last year. The net profit margin was 3.20% and return on equity was 2.20% for ZM. The company reported revenue of $1.14 billion for the quarter, compared to $1.1 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.57 percent. For the current quarter, analysts expect ZM to generate $1.12B in revenue.
