Zoom Video Communications (NASDAQ:ZM) Raised to Buy at Jefferies Financial Group

Zoom Video Communications (NASDAQ:ZM) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a $100.00 price target on the stock, up from their prior price target of $85.00. Jefferies Financial Group’s target price would indicate a potential upside of 21.88% from the company’s previous close.

ZM has been the subject of several other reports. Morgan Stanley upped their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday. Benchmark boosted 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. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Wedbush began coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.10.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $82.05 on Thursday. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50 day moving average price is $79.28 and its two-hundred day moving average price is $68.26.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were 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 directly owns 3,251 shares in the company, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,513 shares of company stock valued at $32,366,914 over the last three months. 10.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently made changes to their positions in ZM. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at $33,000. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the third quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $41,000. Allworth Financial LP lifted its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares during the period. 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.