Zoom Video Communications (NASDAQ:ZM) Earns Buy Rating from Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a research note issued to investors 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 24.95% from the company’s current price.

ZM has been the topic of several other research reports. UBS Group decreased their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Scotiabank decreased their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group boosted their price target on Zoom Video Communications from $72.00 to $86.00 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $76.03 on Wednesday. The stock’s fifty day simple moving average is $80.05 and its 200 day simple moving average is $77.77. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 33,751 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently made changes to their positions in ZM. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC increased its stake in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares during the period. Raiffeisen Bank International AG bought a new position in Zoom Video Communications during the 4th quarter worth $30,000. Finally, Colonial Trust Co SC bought a new position in Zoom Video Communications during the 4th quarter worth $32,000. Institutional investors own 66.54% of the company’s stock.

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.