Rosenblatt Securities Reaffirms Buy Rating for Zoom Video Communications (NASDAQ:ZM)

Rosenblatt Securities reiterated their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report released on Wednesday,Benzinga reports. They currently have a $95.00 price objective on the stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Benchmark reissued a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Citigroup lowered their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Sanford C. Bernstein lifted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group upped their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Trading Down 0.1 %

NASDAQ ZM opened at $75.97 on Wednesday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The stock’s fifty day moving average price is $79.98 and its 200-day moving average price is $77.82. The stock has a market cap of $23.19 billion, a P/E ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26.

Insiders Place Their Bets

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,271 shares of company stock worth $29,496,892. 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 bought and sold shares of the business. FMR LLC raised its position in shares of Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank bought a new stake in Zoom Video Communications in the 4th quarter valued at $751,908,000. AQR Capital Management LLC lifted its stake in Zoom Video Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after purchasing an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Finally, State Street Corp grew its position in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares in the last quarter. 66.54% of the stock is owned by 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.