Zoom Video Communications' (ZM) Market Perform Rating Reiterated at JMP Securities

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "market perform" rating reissued by stock analysts at JMP Securities in a report released on Thursday,Benzinga reports.

Other equities analysts have also recently issued reports about the stock. UBS Group cut 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 report on Tuesday, February 25th. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday. Benchmark restated a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Citigroup cut their price objective on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday. Fifteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus price target of $87.87.

Zoom Video Communications Trading Down 1.6%

Shares of Zoom Video Communications stock traded down $1.31 during trading on Thursday, reaching $80.96. The company's stock had a trading volume of 2,479,952 shares, compared to its average volume of 2,978,897. The company has a 50-day moving average price of $75.78 and a two-hundred day moving average price of $79.70. The firm has a market cap of $24.71 billion, a PE ratio of 27.03, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares of the company's stock, valued at $12,439,687.68. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares of the company's stock, valued at $9,026,790.39. This trade represents a 8.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Swedbank AB boosted its stake in shares of Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after buying an additional 40,351 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Zoom Video Communications by 8.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after buying an additional 7,518 shares during the last quarter. Silver Lake Advisory LLC boosted its stake in shares of Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company's stock valued at $3,291,000 after buying an additional 4,745 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $288,000. Finally, McAdam LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $410,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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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