Zoom Video Communications' (ZM) Neutral Rating Reaffirmed at Cantor Fitzgerald

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued on Thursday,Benzinga reports. They currently have a $87.00 price objective on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 8.34% from the stock's previous close.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company raised their price objective on Zoom Video Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday. Barclays lowered their price target on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Mizuho cut 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 report on Tuesday, April 15th. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Finally, UBS Group cut their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zoom Video Communications has an average rating of "Hold" and an average target price of $87.87.

Zoom Video Communications Price Performance

NASDAQ:ZM traded down $1.97 during mid-day trading on Thursday, hitting $80.30. 1,402,840 shares of the company's stock were exchanged, compared to its average volume of 2,975,165. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The business has a fifty day moving average price of $75.78 and a 200 day moving average price of $79.70. The company has a market cap of $24.51 billion, a PE ratio of 26.70, a P/E/G ratio of 5.48 and a beta of 0.79.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 41,121 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a 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 on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock worth $12,132,994 in the last ninety days. 11.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new position in Zoom Video Communications in the 1st quarter worth approximately $25,000. SouthState Corp purchased a new position in shares of Zoom Video Communications during the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Zoom Video Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after acquiring an additional 246 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. 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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