Zoom Video Communications (NASDAQ:ZM) Rating Increased to Equal Weight at Wells Fargo & Company

Zoom Video Communications (NASDAQ:ZM) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $85.00 price target on the stock, up from their prior price target of $70.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 3.23% from the company’s previous close.

Several other research firms have also recently weighed in on ZM. The Goldman Sachs Group raised their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. UBS Group lifted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Mizuho lifted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $87.81.

Zoom Video Communications Trading Down 0.4 %

ZM opened at $82.34 on Tuesday. The stock has a market capitalization of $25.24 billion, a PE ratio of 27.45, a PEG ratio of 5.29 and a beta of -0.01. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a 50-day moving average price of $82.58 and a two-hundred day moving average price of $70.48.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 37,206 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the sale, the chief executive officer now owns 114,341 shares of the company’s stock, valued at $7,798,056.20. The trade was a 24.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 10,338 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 104,414 shares in the company, valued at approximately $7,257,817.14. This represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 406,263 shares of company stock valued at $30,851,778. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. raised its position in Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after acquiring an additional 131 shares in the last quarter. MML Investors Services LLC raised its position in Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after acquiring an additional 145 shares in the last quarter. MetLife Investment Management LLC raised its position in Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares in the last quarter. 66.54% of the stock is 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.