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

Benchmark reissued their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $97.00 target price on the stock.

Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler boosted their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sanford C. Bernstein boosted their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Finally, UBS Group boosted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.81.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $74.22 on Tuesday. The stock has a market cap of $22.75 billion and a P/E ratio of 24.74. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The company has a fifty day moving average price of $82.92 and a 200 day moving average price of $76.67.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently modified their holdings of the company. FMR LLC raised its position in shares of Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after acquiring an additional 282,645 shares during the period. Norges Bank bought a new position in Zoom Video Communications in the fourth quarter valued at approximately $751,908,000. AQR Capital Management LLC lifted its stake in Zoom Video Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after buying an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Zoom Video Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after buying an additional 1,247,717 shares in the last quarter. Finally, State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares in the last quarter. 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.