Zoom Video Communications (NASDAQ:ZM) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $95.00 price target on the stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Benchmark restated a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Citigroup dropped their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Mizuho increased their price target 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. Finally, Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Fifteen 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Trading Down 0.1 %

Shares of ZM opened at $75.97 on Wednesday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a fifty day moving average price of $79.98 and a 200-day moving average price of $77.82. The firm has a market cap of $23.19 billion, a PE ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock valued at $29,496,892 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZM. Global X Japan Co. Ltd. boosted its position in shares of 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 purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC grew 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 worth $29,000 after buying an additional 265 shares during the period. Parkside Financial Bank & Trust increased its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications during the 4th quarter valued at approximately $30,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $32,000. 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.