Zoom Video Communications’ (ZM) Buy Rating Reaffirmed at Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They presently have a $90.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 10.69% from the company’s previous close.

Several other equities analysts also recently commented on ZM. UBS Group lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Morgan Stanley dropped their price objective on Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Mizuho reduced their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Benchmark reiterated a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen investment 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.90.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $81.31 on Thursday. The company’s 50 day moving average price is $74.34 and its 200-day moving average price is $79.19. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 5.48 and a beta of 0.79.

Insider Activity at Zoom Video Communications

In other news, COO Aparna Bawa sold 16,099 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $143,583.02. This trade represents a 89.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock valued at $12,132,994 over the last 90 days. Corporate insiders own 11.51% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently modified their holdings of ZM. Adero Partners LLC increased its holdings in Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after buying an additional 129 shares during the last quarter. Wynn Capital LLC increased its stake in shares of Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock worth $752,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the period. Principal Securities Inc. lifted its position in Zoom Video Communications by 26.9% during the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after purchasing an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Zoom Video Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after purchasing an additional 168 shares during the period. 66.54% of the stock is currently owned by hedge funds and other 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.