Zoom Video Communications' (ZM) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM - Free Report) in a report released on Wednesday morning,Benzinga reports. They currently have a $95.00 target price on the stock.

A number of other research analysts also recently issued reports on ZM. UBS Group cut their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Scotiabank cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Sanford C. Bernstein boosted 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 research report on Tuesday, November 26th. Finally, Morgan Stanley boosted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 18th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and a consensus target price of $89.33.

Remove Ads

Zoom Video Communications Stock Down 0.1 %

Shares of Zoom Video Communications stock traded down $0.06 on Wednesday, reaching $75.97. The stock had a trading volume of 6,268,809 shares, compared to its average volume of 3,043,251. The company has a 50 day moving average price of $79.98 and a 200 day moving average price of $77.95. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $23.19 billion, a P/E ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the company's stock in a transaction 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 transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock worth $29,496,892 in the last three months. Company insiders own 10.78% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in Zoom Video Communications by 4.4% during the fourth quarter. California State Teachers Retirement System now owns 387,108 shares of the company's stock worth $31,592,000 after acquiring an additional 16,328 shares during the period. 111 Capital purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth $456,000. NorthCrest Asset Manangement LLC purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth $287,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth $7,255,000. Finally, Siemens Fonds Invest GmbH grew its holdings in shares of Zoom Video Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after buying an additional 174 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.