Zoom Video Communications' (ZM) Buy Rating Reaffirmed at Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $95.00 target price on the stock. Rosenblatt Securities' target price indicates a potential upside of 28.90% from the company's previous close.

A number of other research firms have also recently weighed in on ZM. Stifel Nicolaus reduced their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday. Citigroup reduced their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $90.05.

Zoom Video Communications Trading Up 1.1 %

Shares of Zoom Video Communications stock traded up $0.82 during trading hours on Tuesday, reaching $73.70. The stock had a trading volume of 3,080,060 shares, compared to its average volume of 2,697,621. The stock's 50 day moving average is $82.54 and its 200 day moving average is $76.63. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market capitalization of $22.59 billion and a PE ratio of 24.57.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,551 shares of the company's 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 $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at approximately $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 in the last three months. 10.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently modified their holdings of the business. Menard Financial Group LLC increased its position in shares of Zoom Video Communications by 7.4% during the 4th quarter. Menard Financial Group LLC now owns 4,651 shares of the company's stock worth $380,000 after purchasing an additional 320 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Zoom Video Communications during the fourth quarter worth about $20,430,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $239,000. Mackenzie Financial Corp raised its stake in shares of Zoom Video Communications by 98.6% in the 4th quarter. Mackenzie Financial Corp now owns 70,955 shares of the company's stock valued at $5,791,000 after acquiring an additional 35,230 shares during the period. Finally, Forum Financial Management LP acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $345,000. Institutional investors and hedge funds 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.