JMP Securities Reiterates “Market Perform” Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other research analysts have also recently weighed in on ZM. Wedbush assumed coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective on the stock. Bank of America dropped their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Robert W. Baird reduced their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Stifel Nicolaus upped their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $81.94.

Zoom Video Communications Stock Up 3.7 %

NASDAQ ZM opened at $89.03 on Tuesday. The company has a market cap of $27.40 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 7.33 and a beta of -0.05. The business has a 50 day moving average price of $73.85 and a 200-day moving average price of $65.74. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value 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 $131,121.62. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their position. 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 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its position in shares of Zoom Video Communications by 110.1% during the 1st quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock worth $4,220,000 after buying an additional 33,835 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Zoom Video Communications in the first quarter valued at $260,000. California State Teachers Retirement System grew its stake in Zoom Video Communications by 1.7% during the 1st quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after buying an additional 6,630 shares during the last quarter. Tidal Investments LLC boosted its stake in Zoom Video Communications by 89.7% during the 1st 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 during the period. Finally, Comerica Bank grew its position in Zoom Video Communications by 15.6% during the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after purchasing an additional 670 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other 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.