Zoom Video Communications (NASDAQ:ZM) Rating Increased to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a hold rating in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $87.00 price objective on the stock.

Several other brokerages have also commented on ZM. 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 note on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Morgan Stanley raised their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Wedbush started coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Finally, The Goldman Sachs Group lifted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.77.

Zoom Video Communications Stock Down 1.7 %

ZM stock opened at $78.07 on Thursday. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50 day moving average price of $83.05 and a 200 day moving average price of $71.50.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 525,703 shares of company stock worth $41,265,285. 10.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZM. Whalen Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the 4th quarter valued at about $251,000. Avior Wealth Management LLC increased its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Dakota Wealth Management purchased a new position in Zoom Video Communications during the fourth quarter worth approximately $849,000. Simon Quick Advisors LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $320,000. Finally, Atomi Financial Group Inc. grew its stake in shares of Zoom Video Communications by 6.0% during the 4th quarter. Atomi Financial Group Inc. now owns 6,677 shares of the company’s stock valued at $545,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.