Zoom Video Communications’ (ZM) “Buy” Rating Reaffirmed at Rosenblatt Securities

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

Several other equities research analysts also recently issued reports on ZM. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 10th. Wells Fargo & Company upped their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Stifel Nicolaus raised 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. Finally, Bank of America cut their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average price target of $76.61.

Zoom Video Communications Trading Up 5.8 %

NASDAQ ZM opened at $85.88 on Friday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $87.15. The company has a fifty day simple moving average of $73.43 and a 200 day simple moving average of $65.54. The company has a market cap of $26.43 billion, a P/E ratio of 30.78, a P/E/G ratio of 7.33 and a beta of -0.05.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 880 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at $191,264.81. This represents a 23.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications 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 disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 in the last 90 days. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 valued at $337,233,000 after acquiring an additional 2,520,987 shares during the period. FMR LLC boosted its holdings in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC increased its position in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications during the 3rd quarter worth about $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.