Zoom Video Communications (NASDAQ:ZM) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a report released on Friday, MarketBeat.com reports. The firm issued a neutral rating and a $87.00 target price on the stock.

Several other equities analysts also recently commented on the stock. Wedbush initiated coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.77.

Zoom Video Communications Stock Down 1.7 %

ZM stock opened at $78.07 on Friday. The firm has a 50 day moving average of $83.05 and a two-hundred day moving average of $71.50. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the sale, the chief executive officer now owns 57,371 shares in the company, valued at $4,099,157.95. This trade represents a 38.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 525,703 shares of company stock valued at $41,265,285 in the last 90 days. 10.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Truvestments Capital LLC acquired a new position in Zoom Video Communications during the 3rd quarter worth about $37,000. Allworth Financial LP grew its holdings in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after acquiring an additional 164 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.