Zoom Video Communications (ZM) Receives a Sell from Wells Fargo

Wells Fargo analyst Michael Turrin maintained a Sell rating on Zoom Video Communications (ZM – Research Report) on April 12 and set a price target of $70.00. The company’s shares closed last Friday at $61.63.

Turrin covers the Technology sector, focusing on stocks such as Microsoft, HubSpot, and Adobe. According to TipRanks, Turrin has an average return of -3.9% and a 47.25% success rate on recommended stocks.

Zoom Video Communications has an analyst consensus of Hold, with a price target consensus of $77.45.

Based on Zoom Video Communications’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.15 billion and a net profit of $298.83 million. In comparison, last year the company earned a revenue of $1.12 billion and had a GAAP net loss of $104.05 million

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Zoom Video Communications (ZM) Company Description:

Founded in 2011, Zoom Video Communications, Inc. is a cloud-based peer-to-peer software platform that connects people through videotelephony and online chat services. Its video-first communications platform is used for teleconferencing, telecommuting, distance education, and social relations.