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

Benchmark reissued their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $97.00 price target on the stock.

A number of other research analysts have also commented on the company. Scotiabank upped their price target on Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price target on shares of Zoom Video Communications in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Mizuho decreased their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $86.33.

Zoom Video Communications Price Performance

ZM opened at $83.10 on Tuesday. The business has a 50 day simple moving average of $75.62 and a two-hundred day simple moving average of $79.69. The firm has a market capitalization of $25.36 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock worth $12,132,994 in the last 90 days. Insiders own 11.51% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the business. Adero Partners LLC boosted its stake in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Zoom Video Communications by 6.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company’s stock worth $172,000 after buying an additional 143 shares during the last quarter. Wynn Capital LLC boosted its stake in shares of Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock worth $752,000 after buying an additional 160 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after buying an additional 166 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after buying an additional 168 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other 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.