Zoom Video Communications (NASDAQ:ZM) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Zoom Video Communications (NASDAQ:ZM) from a hold rating to a buy rating in a report released on Thursday, MarketBeat Ratings reports. Jefferies Financial Group currently has $100.00 target price on the stock, up from their prior target price of $85.00.

Several other analysts also recently weighed in on the company. UBS Group lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Benchmark upped their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $87.10.

Zoom Video Communications Trading Up 2.4 %

Shares of NASDAQ:ZM opened at $84.05 on Thursday. The firm’s 50 day moving average is $79.55 and its two-hundred day moving average is $68.37. The firm has a market capitalization of $25.76 billion, a P/E ratio of 28.02, a PEG ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Shane Crehan sold 2,478 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $69.09, for a total value of $171,205.02. Following the transaction, the chief accounting officer now directly owns 2,383 shares in the company, valued at $164,641.47. The trade was a 50.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,513 shares of company stock worth $32,366,914 over the last ninety days. 10.78% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently made changes to their positions in the stock. FMR LLC grew its stake in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp lifted its holdings 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 during the last quarter. AQR Capital Management LLC grew its stake in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after buying an additional 233,241 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.