JMP Securities Reiterates Market Perform Rating for Zoom Video Communications (NASDAQ:ZM)

JMP Securities restated their market perform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Tuesday morning,Benzinga reports.

Several other brokerages have also recently weighed in on ZM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Robert W. Baird decreased their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, Benchmark increased their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

Shares of Zoom Video Communications stock opened at $85.36 on Tuesday. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm’s 50-day moving average price is $74.92 and its two-hundred day moving average price is $66.16.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after acquiring an additional 2,395,396 shares during the period. State Street Corp raised its holdings 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 worth $425,853,000 after acquiring an additional 134,559 shares during the period. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after acquiring an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. 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.