Rosenblatt Securities Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM - Get Free Report) had its price objective upped by Rosenblatt Securities from $90.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' target price would suggest a potential upside of 21.55% from the stock's current price.

Other research analysts have also issued research reports about the stock. Barclays cut their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company cut their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada restated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday. Finally, Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Thursday. Fourteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.41.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $82.27 on Thursday. The firm has a market capitalization of $25.11 billion, a PE ratio of 27.42, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The business has a 50-day moving average of $75.78 and a two-hundred day moving average of $79.70.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, 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 have sold a total of 164,515 shares of company stock valued at $12,132,994 in the last three months. Corporate insiders own 11.51% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its holdings in shares of Zoom Video Communications by 464.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 16,374 shares of the company's stock valued at $1,336,000 after buying an additional 13,471 shares during the period. Atomi Financial Group Inc. raised its stake in Zoom Video Communications by 6.0% during the fourth quarter. Atomi Financial Group Inc. now owns 6,677 shares of the company's stock worth $545,000 after acquiring an additional 376 shares during the period. Simon Quick Advisors LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth about $320,000. Dakota Wealth Management bought a new position in Zoom Video Communications in the fourth quarter worth about $849,000. Finally, Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the period. Institutional investors own 66.54% of the company's stock.

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.

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