Zoom Video Communications’ (ZM) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report report published on Tuesday,Benzinga reports. They currently have a $95.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley boosted their price target on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Finally, Benchmark lifted their target price on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $85.36 on Tuesday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05. The stock’s 50-day simple moving average is $74.92 and its 200-day simple moving average is $66.16.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total value of $609,184.44. 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. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds have recently bought and sold shares of ZM. Lazard Asset Management LLC raised its position in shares of Zoom Video Communications by 110.1% during the 1st quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock worth $4,220,000 after acquiring an additional 33,835 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Zoom Video Communications during the 1st quarter worth about $260,000. California State Teachers Retirement System raised its position in shares of Zoom Video Communications by 1.7% during the 1st quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after acquiring an additional 6,630 shares in the last quarter. Tidal Investments LLC raised its position in shares of Zoom Video Communications by 89.7% during the 1st quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock worth $2,246,000 after acquiring an additional 16,248 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Zoom Video Communications by 15.6% during the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after acquiring an additional 670 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.