Royal Bank of Canada Reaffirms “Outperform” Rating for Zoom Video Communications (NASDAQ:ZM)

Royal Bank of Canada restated their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $95.00 price objective on the stock.

Several other equities analysts have also recently weighed in on ZM. The Goldman Sachs Group lifted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday. Finally, Sanford C. Bernstein upped their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Up 1.1 %

Shares of NASDAQ ZM opened at $76.26 on Wednesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company’s fifty day moving average is $80.13 and its 200-day moving average is $77.79. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock valued at $29,496,892 in the last quarter. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank acquired a new stake in Zoom Video Communications during the fourth quarter worth approximately $751,908,000. AQR Capital Management LLC increased its stake in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after acquiring an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. lifted its position 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 valued at $521,123,000 after acquiring an additional 1,247,717 shares during the period. Finally, State Street Corp lifted its position in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares during the period. 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.