Zoom Video Communications’ (ZM) Buy Rating Reiterated at Benchmark

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a report issued on Tuesday,Benzinga reports. They currently have a $97.00 target price on the stock. Benchmark’s price target points to a potential upside of 30.82% from the company’s previous close.

Several other analysts have also recently weighed in on ZM. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday. Mizuho raised their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Stifel Nicolaus lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.57.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $74.15 on Tuesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $22.73 billion and a PE ratio of 24.72. The company’s 50 day simple moving average is $82.76 and its two-hundred day simple moving average is $76.66.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Zoom Video Communications during the fourth quarter valued at $30,000. Finally, Colonial Trust Co SC bought a new position in Zoom Video Communications during the fourth quarter valued at $32,000. 66.54% of the stock is currently owned by institutional investors.

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.