Zoom Video Communications (NASDAQ:ZM) Upgraded at Jefferies Financial Group

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has a $100.00 target price on the stock, up from their prior target price of $85.00. Jefferies Financial Group's price objective suggests a potential upside of 18.98% from the stock's previous close.

Several other analysts have also issued reports on the stock. Mizuho upped their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, August 22nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Piper Sandler lifted their target price 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. Finally, Rosenblatt Securities reissued a "buy" rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $87.10.

Zoom Video Communications Stock Up 2.4 %

NASDAQ:ZM traded up $2.00 during midday trading on Thursday, hitting $84.05. The company had a trading volume of 3,303,145 shares, compared to its average volume of 3,330,243. The company has a market capitalization of $25.76 billion, a PE ratio of 28.02, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The stock's fifty day moving average price is $79.28 and its 200-day moving average price is $68.26.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 10,871 shares of the firm's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $68.12, for a total value of $740,532.52. Following the transaction, the chief operating officer now directly owns 12,498 shares of the company's stock, valued at approximately $851,363.76. This trade represents a 46.52 % 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, insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the transaction, the insider now owns 104,414 shares in the company, valued at $7,257,817.14. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 428,513 shares of company stock valued at $32,366,914 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP increased its holdings in shares of Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock worth $1,994,000 after buying an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications during the second quarter valued at approximately $763,000. HighTower Advisors LLC lifted its stake in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company's stock valued at $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock worth $87,713,000 after purchasing an additional 167,618 shares during the period. Finally, National Pension Service increased its position in shares of Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company's stock valued at $45,696,000 after purchasing an additional 151,728 shares during the last quarter. Hedge funds and other institutional investors 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.