Zoom Video Communications’ (ZM) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Friday morning,Benzinga reports. They currently have a $78.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus raised their target price on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $76.61.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $85.88 on Friday. The firm has a market capitalization of $26.43 billion, a PE ratio of 30.78, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $87.15. The business has a 50-day moving average of $73.43 and a two-hundred day moving average of $65.54.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on 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. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in Zoom Video Communications during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications in the 2nd quarter valued at approximately $36,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the 3rd quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications during the 2nd quarter valued at $41,000. Finally, Allworth Financial LP boosted its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors 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.