Zoom Video Communications (NASDAQ:ZM) Earns "Neutral" Rating from Cantor Fitzgerald

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "neutral" rating reissued by analysts at Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They currently have a $87.00 price target on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 18.05% from the company's current price.

Several other equities analysts have also recently commented on ZM. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Sanford C. Bernstein boosted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research note on Tuesday, November 26th. Barclays raised their price target on Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised Zoom Video Communications from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Fifteen equities research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $90.05.

Zoom Video Communications Price Performance

ZM traded up $0.82 on Tuesday, reaching $73.70. 3,080,060 shares of the company traded hands, compared to its average volume of 2,697,621. The company has a market cap of $22.59 billion and a price-to-earnings ratio of 24.57. The stock's 50 day moving average price is $82.54 and its 200-day moving average price is $76.63. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 over the last three months. 10.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Raymond James & Associates grew its holdings in shares of Zoom Video Communications by 0.7% in the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company's stock worth $3,702,000 after purchasing an additional 383 shares during the last quarter. International Assets Investment Management LLC boosted its position in Zoom Video Communications by 6,614.6% in the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company's stock valued at $34,868,000 after buying an additional 492,520 shares in the last quarter. Allworth Financial LP grew its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Zoom Video Communications by 93.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company's stock valued at $2,564,000 after acquiring an additional 17,831 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in shares of Zoom Video Communications by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 48,500 shares of the company's stock worth $3,382,000 after acquiring an additional 5,100 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.