Zoom Video Communications (NASDAQ:ZM) Receives Buy Rating from Rosenblatt Securities

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

ZM has been the topic of a number of other research reports. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. UBS Group reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, Mizuho boosted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” 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. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Stock Up 1.1 %

Shares of NASDAQ:ZM opened at $76.26 on Wednesday. The business has a fifty day simple moving average of $80.13 and a 200-day simple moving average of $77.79. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market cap of $23.28 billion, a P/E ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock worth $29,496,892 in the last 90 days. 10.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently made changes to their positions in ZM. Global X Japan Co. Ltd. grew its position in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $30,000. Finally, Colonial Trust Co SC acquired a new position in Zoom Video Communications during the 4th quarter valued at approximately $32,000. 66.54% of the stock is currently 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.