Zoom Video Communications (NASDAQ:ZM) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report report published on Friday morning,Benzinga reports. They currently have a $78.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $76.61.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $89.03 on Friday. The firm’s fifty day moving average price is $73.85 and its two-hundred day moving average price is $65.74. The stock has a market cap of $27.40 billion, a PE ratio of 31.91, a PEG ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Activity

In related news, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. This represents a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,108 shares of company stock worth $26,796,191. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. UniSuper Management Pty Ltd grew its position in Zoom Video Communications by 118.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,500 shares of the company’s stock worth $229,000 after purchasing an additional 1,900 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Zoom Video Communications by 297.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock worth $41,815,000 after purchasing an additional 478,769 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Zoom Video Communications in the 1st quarter worth about $944,000. Lazard Asset Management LLC grew its position in Zoom Video Communications by 110.1% in the 1st quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock worth $4,220,000 after purchasing an additional 33,835 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Zoom Video Communications in the 1st quarter worth about $4,327,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.