Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "buy" rating restated by analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $90.00 price target on the stock. Rosenblatt Securities' price objective points to a potential upside of 8.23% from the stock's previous close.
Other equities research analysts also recently issued research reports about the company. Benchmark reaffirmed a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Barclays dropped their price objective on shares of 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, Mizuho dropped their price objective on shares of 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. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $85.90.
View Our Latest Stock Report on Zoom Video Communications
Zoom Video Communications Stock Up 0.6%
Shares of Zoom Video Communications stock traded up $0.49 on Thursday, reaching $83.16. 993,617 shares of the stock were exchanged, compared to its average volume of 3,014,424. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market capitalization of $25.38 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 5.48 and a beta of 0.79. The business has a 50 day moving average price of $74.48 and a two-hundred day moving average price of $79.36.
Insider Buying and Selling
In related news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the transaction, the director now owns 157,824 shares of the company's stock, valued at $12,439,687.68. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 over the last 90 days. 11.51% of the stock is owned by insiders.
Institutional Trading of Zoom Video Communications
Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at about $751,908,000. Altshuler Shaham Ltd increased its holdings in shares of Zoom Video Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock valued at $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new position in Zoom Video Communications during the 4th quarter worth $72,854,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
About Zoom Video Communications
(
Get Free Report)
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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