Zoom Video Communications (NASDAQ:ZM) Rating Increased to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a hold rating in a report issued on Thursday, MarketBeat Ratings reports. Cantor Fitzgerald currently has $87.00 target price on the stock.

Several other research analysts have also commented on the company. UBS Group raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Mizuho upped their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Barclays lifted their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Benchmark upped their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.77.

Zoom Video Communications Stock Down 1.7 %

Zoom Video Communications stock opened at $78.07 on Thursday. The firm has a fifty day moving average of $83.05 and a 200-day moving average of $71.50. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $23.93 billion, a P/E ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 12,075 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $79.15, for a total value of $955,736.25. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $156,558.70. This represents a 85.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now directly owns 1,514 shares in the company, valued at $121,619.62. The trade was a 94.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,703 shares of company stock worth $41,265,285. 10.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baker Avenue Asset Management LP raised its position in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Zoom Video Communications during the second quarter valued at approximately $763,000. HighTower Advisors LLC raised its holdings in Zoom Video Communications by 449.4% during the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications in the third quarter worth approximately $62,038,000. 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.