Zoom Video Communications (NASDAQ:ZM) Given “Outperform” Rating at Royal Bank of Canada

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $95.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.35% from the company’s previous close.

Several other research analysts have also commented on ZM. Scotiabank decreased their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Monday. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Mizuho lifted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Barclays decreased their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Stock Up 1.3 %

Shares of ZM traded up $0.95 during mid-day trading on Wednesday, hitting $76.40. The stock had a trading volume of 289,218 shares, compared to its average volume of 3,014,224. The company has a market cap of $23.32 billion, a PE ratio of 25.46, a PEG ratio of 5.48 and a beta of 0.26. The company’s fifty day simple moving average is $80.20 and its two-hundred day simple moving average is $77.80. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Transactions at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 369,271 shares of company stock valued at $29,496,892. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently modified their holdings of ZM. Global X Japan Co. Ltd. grew its holdings in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Video Communications in the 4th quarter worth $30,000. Finally, Colonial Trust Co SC acquired a new position in shares of Zoom Video Communications in the 4th quarter worth $32,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.