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Goldman Sachs Maintains a Hold Rating on Zoom Video Communications (ZM)

In a report released today, Kash Rangan from Goldman Sachs maintained a Hold rating on Zoom Video Communications (ZMResearch Report), with a price target of $171.00. The company’s shares closed last Monday at $132.60, close to its 52-week low of $114.26.

According to TipRanks.com, Rangan is a 5-star analyst with an average return of 13.8% and a 62.5% success rate. Rangan covers the Technology sector, focusing on stocks such as Definitive Healthcare Corp, ZoomInfo Technologies, and Procore Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zoom Video Communications with a $186.76 average price target, which is a 47.3% upside from current levels. In a report issued on February 24, UBS also maintained a Hold rating on the stock with a $130.00 price target.

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Based on Zoom Video Communications’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.05 billion and net profit of $340 million. In comparison, last year the company earned revenue of $777 million and had a net profit of $199 million.

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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.

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