Benchmark Reaffirms Buy Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Benchmark in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $97.00 price objective on the stock. Benchmark's price target would indicate a potential upside of 16.43% from the stock's current price.

Several other research analysts have also recently weighed in on the company. Mizuho dropped their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Scotiabank lifted their target price on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Friday. Morgan Stanley decreased their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Barclays dropped their price target on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price objective on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $86.33.

Zoom Video Communications Stock Down 1.5%

NASDAQ:ZM opened at $83.31 on Tuesday. The stock has a market cap of $25.43 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 5.48 and a beta of 0.79. The company's 50 day moving average price is $75.40 and its 200-day moving average price is $79.66. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Activity

In other news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction on 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 directly owns 1,978 shares in the company, valued at approximately $143,583.02. The trade was a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 over the last quarter. Insiders own 11.51% of the company's stock.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Zoom Video Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after acquiring an additional 624,863 shares during the last quarter. FMR LLC boosted its stake in shares of Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank bought a new position in shares of Zoom Video Communications in the fourth quarter worth about $751,908,000. AQR Capital Management LLC increased its stake in Zoom Video Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after buying an additional 373,509 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Zoom Video Communications by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after buying an additional 36,210 shares in the last quarter. 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.

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