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

Rosenblatt Securities reiterated their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report issued on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $95.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Mizuho increased their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Barclays raised 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 lifted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $90.05.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $72.88 on Tuesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market cap of $22.34 billion and a P/E ratio of 24.29. The stock has a 50-day simple moving average of $82.54 and a 200-day simple moving average of $76.63.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by insiders.

Institutional Trading of Zoom Video Communications

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Zoom Video Communications during the 4th quarter valued at about $751,908,000. FMR LLC grew its stake in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. Altshuler Shaham Ltd increased its position in Zoom Video Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock worth $167,813,000 after purchasing an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock worth $521,123,000 after purchasing an additional 1,247,717 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $99,471,000. 66.54% of the stock is 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.