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

Royal Bank of Canada reaffirmed their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $95.00 price objective on the stock.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Trading Down 0.1 %

Shares of Zoom Video Communications stock opened at $75.97 on Wednesday. The firm has a market capitalization of $23.19 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The business’s fifty day simple moving average is $79.98 and its 200 day simple moving average is $77.82. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 33,751 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC grew its position in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new stake in Zoom Video Communications in the fourth quarter worth about $1,072,000. Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications in the third quarter worth about $62,038,000. State Street Corp lifted its position 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 valued at $425,853,000 after buying an additional 134,559 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake 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 acquiring an additional 521,778 shares during the period. Hedge funds and other institutional investors 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.