Zoom Video Communications (NASDAQ:ZM) Earns Buy Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $95.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, UBS Group lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Trading Up 1.1 %

ZM opened at $76.26 on Wednesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market cap of $23.28 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The business’s 50 day moving average is $80.13 and its 200-day moving average is $77.79.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 33,751 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC grew its stake in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after buying an additional 52,039 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Zoom Video Communications in the fourth quarter valued at approximately $1,072,000. Eagle Asset Management Inc. bought a new stake in Zoom Video Communications in the third quarter worth approximately $62,038,000. State Street Corp increased its stake in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after purchasing an additional 521,778 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.