Zoom Video Communications (NASDAQ:ZM) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $87.00 price objective on the stock.

Several other brokerages also recently weighed in on ZM. Bank of America lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $89.10.

Zoom Video Communications Stock Down 1.7 %

Zoom Video Communications stock opened at $78.07 on Friday. The firm has a 50-day moving average price of $82.98 and a two-hundred day moving average price of $71.73. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01.

Insider Activity

In other news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now owns 1,514 shares in the company, valued at $113,610.56. This represents a 89.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 489,981 shares of company stock worth $38,712,948 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Several large investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 291.2% during the 4th 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 last quarter. Truvestments Capital LLC acquired a new position in Zoom Video Communications during the third quarter valued at approximately $37,000. Allworth Financial LP raised its position in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after buying an additional 274 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares during the period. 66.54% of the stock is owned by institutional investors.

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.