Zoom Video Communications (NASDAQ:ZM) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Zoom Video Communications (NASDAQ:ZM) from a hold rating to a buy rating in a report issued on Thursday morning, Marketbeat reports. The brokerage currently has $100.00 price target on the stock, up from their prior price target of $85.00.

A number of other brokerages have also recently weighed in on ZM. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Sanford C. Bernstein boosted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price target for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.10.

Zoom Video Communications Price Performance

ZM opened at $85.60 on Thursday. The business has a 50 day moving average price of $79.85 and a two-hundred day moving average price of $68.59. The company has a market capitalization of $26.24 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Insider Buying and Selling

In related news, CAO Shane Crehan sold 1,551 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,338 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $69.51, for a total value of $718,594.38. Following the transaction, the insider now owns 104,414 shares in the company, valued at $7,257,817.14. This represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,513 shares of company stock valued at $32,366,914. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. lifted its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares during the period. MML Investors Services LLC lifted its holdings in shares of Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after purchasing an additional 145 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares in the last quarter. Finally, Menard Financial Group LLC grew its holdings in shares of Zoom Video Communications by 4.0% in the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.