Zoom Video Communications Inc’s (ZM) Quiet Period To End on May 28th

Zoom Video Communications’ (NASDAQ:ZM) quiet period is set to end on Tuesday, May 28th. Zoom Video Communications had issued 20,869,565 shares in its initial public offering on April 18th. The total size of the offering was $751,304,340 based on an initial share price of $36.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Several analysts recently commented on ZM shares. Bank of America started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “buy” rating and a $89.00 target price on the stock. Morgan Stanley started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued an “equal weight” rating and a $75.00 target price on the stock. Stifel Nicolaus started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “hold” rating and a $75.00 target price on the stock. JMP Securities started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “market perform” rating and a $79.63 target price on the stock. Finally, Wells Fargo & Co started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “market perform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $76.82.

Zoom Video Communications stock opened at $76.25 on Friday. 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 the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total transaction of $21,016,332.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Janine Pelosi sold 81,668 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total value of $2,940,048.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,405,918 shares of company stock worth $83,480,215 over the last 90 days.

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About Zoom Video Communications

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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