Zoom Video Communications’ (ZM) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report published on Tuesday morning,Benzinga reports. Benchmark currently has a $97.00 target price on the stock.

Several other research analysts have also issued reports on the company. Scotiabank raised Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. UBS Group raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Barclays boosted their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.05.

Zoom Video Communications Price Performance

ZM opened at $72.88 on Tuesday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company’s 50 day moving average price is $82.54 and its two-hundred day moving average price is $76.63. The firm has a market capitalization of $22.34 billion and a price-to-earnings ratio of 24.29.

Insider Activity

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock worth $31,230,938 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Large investors have recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP raised its holdings in shares of Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,890 shares during the period. HighTower Advisors LLC grew its stake in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the period. Merit Financial Group LLC bought a new position in shares of Zoom Video Communications during the 4th quarter worth $1,072,000. Robeco Institutional Asset Management B.V. increased its holdings in Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications in the 3rd quarter valued at about $62,038,000. Hedge funds and other 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.