Royal Bank of Canada Reiterates Outperform Rating for Zoom Video Communications (NASDAQ:ZM)

Royal Bank of Canada reiterated their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Tuesday morning,Benzinga reports. They currently have a $95.00 price target on the stock.

ZM has been the subject of several other research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Benchmark boosted their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday. Wells Fargo & Company boosted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.20.

Zoom Video Communications Stock Down 6.3 %

ZM stock opened at $83.41 on Tuesday. The company has a market capitalization of $25.67 billion, a P/E ratio of 29.90, a PEG ratio of 7.33 and a beta of -0.05. The company has a 50-day simple moving average of $74.16 and a 200 day simple moving average of $65.89. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the completion of the transaction, the chief executive officer now directly owns 85,514 shares in the company, valued at $5,847,447.32. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the third quarter valued at $37,000. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the second quarter valued at $33,000. Allworth Financial LP raised its stake 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the second quarter valued at $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications in the second quarter valued at $41,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.