Zoom Video Communications (NASDAQ:ZM) Receives “Buy” Rating from Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They presently have a $95.00 price target on the stock. Rosenblatt Securities’ price target points to a potential upside of 25.91% from the company’s previous close.

A number of other equities analysts also recently issued reports on ZM. Stifel Nicolaus decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Barclays dropped their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Sanford C. Bernstein increased their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Piper Sandler increased their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Bank of America raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Trading Up 0.4 %

Shares of NASDAQ:ZM opened at $75.45 on Wednesday. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The company has a 50-day moving average price of $80.20 and a 200-day moving average price of $77.80. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Zoom Video Communications by 4.4% in the 4th quarter. California State Teachers Retirement System now owns 387,108 shares of the company’s stock valued at $31,592,000 after purchasing an additional 16,328 shares during the last quarter. 111 Capital acquired a new position in Zoom Video Communications in the 4th quarter valued at about $456,000. NorthCrest Asset Manangement LLC acquired a new position in Zoom Video Communications in the 4th quarter valued at about $287,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Zoom Video Communications in the 4th quarter valued at about $7,255,000. Finally, Siemens Fonds Invest GmbH increased its position in Zoom Video Communications by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock valued at $391,000 after acquiring an additional 174 shares during the period. 66.54% of the stock is 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.