Zoom Video Communications’ (ZM) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note published on Tuesday,Benzinga reports. They currently have a $87.00 price objective on the stock.

Several other research firms have also weighed in on ZM. Barclays boosted their target price on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Sanford C. Bernstein lifted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Mizuho raised their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group lifted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, UBS Group increased their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $72.88 on Tuesday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock’s 50-day moving average is $82.54 and its two-hundred day moving average is $76.63. The firm has a market cap of $22.34 billion and a P/E ratio of 24.29.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business’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 $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $30,000. Finally, Colonial Trust Co SC bought a new position in Zoom Video Communications during the fourth quarter worth about $32,000. 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.