Zoom Video Communications (NASDAQ:ZM) Upgraded to “Strong-Buy” at Hsbc Global Res

Zoom Video Communications (NASDAQ:ZM) was upgraded by equities researchers at Hsbc Global Res to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. UBS Group upped their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush initiated coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target on the stock. Morgan Stanley lifted their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Down 3.1 %

Shares of ZM opened at $82.69 on Tuesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market cap of $25.45 billion, a PE ratio of 27.56, a P/E/G ratio of 5.69 and a beta of -0.05. The business’s 50-day moving average price is $75.22 and its 200-day moving average price is $66.30.

Insider Activity

In related news, 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 transaction of $13,733,895.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly Steckelberg sold 14,151 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.12, for a total transaction of $963,966.12. Following the sale, the chief financial officer now directly owns 140,427 shares of the company’s stock, valued at $9,565,887.24. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,108 shares of company stock valued at $26,796,191. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZM. Franklin Resources Inc. boosted its holdings in Zoom Video Communications by 53.6% in the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after acquiring an additional 115,837 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Zoom Video Communications during the 3rd quarter valued at about $2,653,000. Sanctuary Advisors LLC boosted its stake in shares of Zoom Video Communications by 22.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after purchasing an additional 2,714 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in Zoom Video Communications by 0.5% in the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock worth $3,455,000 after buying an additional 260 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Zoom Video Communications by 32.1% in the third quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock worth $2,229,000 after buying an additional 7,768 shares in the last quarter. 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.