Zoom Video Communications’ (ZM) Market Perform Rating Reaffirmed at JMP Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “market perform” rating reiterated by investment analysts at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports.

A number of other equities research analysts have also issued reports on ZM. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $70.00 to $115.00 in a research note on Tuesday. Bank of America reduced their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Robert W. Baird dropped their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Trading Up 2.3 %

NASDAQ ZM opened at $85.36 on Tuesday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 7.60 and a beta of -0.05. The company’s 50 day moving average is $74.55 and its two-hundred day moving average is $66.03.

Insider Transactions at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares of the company’s stock, valued at $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in Zoom Video Communications during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the second quarter worth about $36,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications during the second quarter valued at about $41,000. Finally, Allworth Financial LP boosted its stake in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.