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

Equities research analysts at Cantor Fitzgerald began coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $87.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 9.52% from the company’s current price.

Several other equities research analysts have also recently commented on ZM. UBS Group lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.77.

Zoom Video Communications Price Performance

ZM opened at $79.44 on Friday. The stock has a market capitalization of $24.35 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01. The company’s 50 day simple moving average is $83.06 and its 200-day simple moving average is $71.45. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at $4,099,157.95. This represents a 38.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the transaction, the director now owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. The trade was a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 500,703 shares of company stock worth $39,257,035. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently made changes to their positions in the business. Baker Avenue Asset Management LP boosted its position in Zoom Video Communications by 82.1% during the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $763,000. HighTower Advisors LLC grew its stake in shares of Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after buying an additional 52,039 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after buying an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications during the third quarter worth $62,038,000. 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.