Zoom Video Communications (NASDAQ:ZM) Upgraded by Hsbc Global Res to Strong-Buy Rating

Hsbc Global Res upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on ZM. Sanford C. Bernstein lifted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday. Piper Sandler lifted their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday. UBS Group lifted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $82.69 on Tuesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 5.69 and a beta of -0.05. The company’s 50 day simple moving average is $75.22 and its 200 day simple moving average is $66.30.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 over the last three months. 10.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Zoom Video Communications during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications during the second quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the 3rd quarter worth $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at $41,000. Finally, Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds 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.