Zoom Video Communications (NASDAQ:ZM) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Zoom Video Communications (NASDAQ:ZM - Free Report) in a report issued on Wednesday,Benzinga reports. Rosenblatt Securities currently has a $95.00 price target on the stock.

Several other brokerages have also issued reports on ZM. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Piper Sandler increased their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley raised their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Finally, Bank of America raised their price objective on shares of 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $89.33.

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Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded down $0.06 during trading on Wednesday, hitting $75.97. The company's stock had a trading volume of 6,268,809 shares, compared to its average volume of 3,043,251. The company has a fifty day simple moving average of $79.98 and a two-hundred day simple moving average of $77.95. The company has a market capitalization of $23.19 billion, a PE ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 10,817 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the sale, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock valued at $29,496,892 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several large investors have recently bought and sold shares of ZM. Global X Japan Co. Ltd. boosted its stake in 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 period. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 265 shares during the period. Parkside Financial Bank & Trust boosted its stake in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new position in Zoom Video Communications during the fourth quarter worth $30,000. Finally, Colonial Trust Co SC purchased a new position in Zoom Video Communications during the fourth quarter worth $32,000. Institutional investors own 66.54% of the company's stock.

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.