Zoom Video Communications’ (ZM) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note published on Tuesday,Benzinga reports. They currently have a $95.00 price target on the stock.

A number of other equities research analysts have also recently commented on ZM. Sanford C. Bernstein increased their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. JMP Securities reiterated 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 raised their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Citigroup dropped their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Fifteen equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.05.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $72.88 on Tuesday. The stock has a market cap of $22.34 billion and a price-to-earnings ratio of 24.29. The firm’s 50-day moving average is $82.54 and its two-hundred day moving average is $76.63. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 in the last 90 days. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of Zoom Video Communications by 0.7% during the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company’s stock worth $3,702,000 after purchasing an additional 383 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Zoom Video Communications by 6,614.6% in the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after acquiring an additional 492,520 shares during the period. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 93.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company’s stock worth $2,564,000 after acquiring an additional 17,831 shares during the last quarter. Finally, Forsta AP Fonden boosted its position in shares of Zoom Video Communications by 11.8% during the 3rd quarter. Forsta AP Fonden now owns 48,500 shares of the company’s stock worth $3,382,000 after purchasing an additional 5,100 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.