Zoom Video Communications’ (ZM) Market Perform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report published on Tuesday,Benzinga reports.

Other equities analysts also recently issued reports about the stock. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $115.00 in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Benchmark raised their price target on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird lowered their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Stock Performance

Shares of ZM opened at $85.36 on Tuesday. The company has a market capitalization of $26.27 billion, a PE ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05. The company’s 50 day moving average price is $74.92 and its 200 day moving average price is $66.16. 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 news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 over the last ninety days. Company insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in Zoom Video Communications by 110.1% in the first quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock worth $4,220,000 after purchasing an additional 33,835 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Zoom Video Communications in the first quarter worth about $260,000. California State Teachers Retirement System raised its position in Zoom Video Communications by 1.7% in the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after purchasing an additional 6,630 shares in the last quarter. Tidal Investments LLC raised its position in Zoom Video Communications by 89.7% in the first quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock worth $2,246,000 after purchasing an additional 16,248 shares in the last quarter. Finally, Comerica Bank raised its position in Zoom Video Communications by 15.6% in the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after purchasing an additional 670 shares in 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.