Oppenheimer Maintains a Hold Rating on Zoom Video Communications (ZM)

By Ryan Adsit

In a report released today, Ittai Kidron from Oppenheimer maintained a Hold rating on Zoom Video Communications (ZMResearch Report). The company’s shares closed last Wednesday at $148.16, close to its 52-week high of $164.95.

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 30.5% and a 71.3% success rate. Kidron covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Slack Technologies, and Juniper Networks.

Currently, the analyst consensus on Zoom Video Communications is a Moderate Buy with an average price target of $118.44, which is a -19.5% downside from current levels. In a report issued on April 16, BTIG also initiated coverage with a Hold rating on the stock.

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Based on Zoom Video Communications’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $188 million and net profit of $15.34 million. In comparison, last year the company earned revenue of $106 million and had a net profit of $5.7 million.

Based on the recent corporate insider activity of 122 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZM in relation to earlier this year.

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Zoom Video Communications, Inc. engages in the provision of video-first communications platform. It connects people through frictionless video, voice, chat and content sharing, and enable face-to-face video experiences for thousands of people in a single meeting across disparate devices and locations. It focuses on customer and employee happiness, a video-first cloud architecture, recognized market leadership, viral demand, an efficient go-to-market strategy, and robust customer support. The company was founded by Eric S. Yuan in 2011 and is headquartered in San Jose, CA.