Cantor Fitzgerald Initiates Coverage on Zoom Video Communications (NASDAQ:ZM)

Cantor Fitzgerald began coverage on shares of Zoom Video Communications (NASDAQ:ZM - Free Report) in a research note published on Friday, Marketbeat reports. The brokerage issued a neutral rating and a $87.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on ZM. Hsbc Global Res raised shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an "outperform" rating and a $85.00 price objective on the stock. Morgan Stanley lifted 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, December 18th. Benchmark increased their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $87.77.

Zoom Video Communications Price Performance

NASDAQ:ZM traded down $1.20 on Friday, reaching $78.24. 1,519,638 shares of the company's stock were exchanged, compared to its average volume of 2,024,062. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. The stock has a fifty day simple moving average of $83.06 and a 200-day simple moving average of $71.45. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Activity

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company's stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares of the company's stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,703 shares of company stock valued at $39,257,035. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors and hedge funds have recently bought and sold shares of ZM. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth approximately $37,000. Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after buying an additional 180 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after acquiring an additional 274 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after acquiring an additional 164 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Zoom Video Communications by 10,763.6% during the third quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $83,000 after acquiring an additional 1,184 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.