Royal Bank of Canada Reaffirms Outperform Rating for Zoom Video Communications (NASDAQ:ZM)

Royal Bank of Canada reaffirmed their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $95.00 target price on the stock.

ZM has been the topic of several other reports. Robert W. Baird lowered their target price on 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. Deutsche Bank Aktiengesellschaft lifted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley lifted their target price on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $70.00 to $115.00 in a research note on Tuesday. Finally, Wedbush assumed coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Up 2.3 %

NASDAQ:ZM opened at $85.36 on Tuesday. The stock’s 50 day moving average price is $74.92 and its 200 day moving average price is $66.16. The company has a market capitalization of $26.27 billion, a PE ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated 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. Over the last 90 days, insiders sold 367,108 shares of company stock valued at $26,796,191. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications during the second quarter worth about $36,000. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the third quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications during the second quarter worth about $41,000. Finally, Allworth Financial LP lifted its stake in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.