Zoom Video Communications (NASDAQ:ZM) Earns Buy Rating from Benchmark

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Benchmark in a note issued to investors on Tuesday,Benzinga reports. They presently have a $97.00 price target on the stock. Benchmark's price objective indicates a potential upside of 31.61% from the company's previous close.

Several other research analysts have also recently weighed in on ZM. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a report on Tuesday. UBS Group upped their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Bank of America increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, Citigroup decreased their price target on shares of 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. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $90.05.

Zoom Video Communications Stock Performance

ZM stock traded up $0.82 during midday trading on Tuesday, reaching $73.70. 3,080,060 shares of the company's stock traded hands, compared to its average volume of 2,697,621. The company has a 50-day moving average price of $82.30 and a two-hundred day moving average price of $76.76. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market capitalization of $22.59 billion and a PE ratio of 24.57.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This trade represents a 20.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications 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 transaction, 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 sold 382,242 shares of company stock valued at $31,230,938 over the last 90 days. Corporate insiders own 10.78% of the company's stock.

Institutional Trading of Zoom Video Communications

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after acquiring an additional 282,645 shares during the last quarter. Norges Bank purchased a new position in shares of Zoom Video Communications during the 4th quarter worth about $751,908,000. AQR Capital Management LLC boosted its stake in shares of Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after purchasing an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after purchasing an additional 1,247,717 shares during the period. Finally, State Street Corp boosted its position in Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after buying an additional 134,559 shares during the period. 66.54% of the stock is currently owned by 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.