Zoom Video Communications (NASDAQ:ZM) Given “Outperform” Rating at Royal Bank of Canada

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They currently have a $95.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 24.35% from the company’s previous close.

ZM has been the topic of a number of other research reports. Citigroup lowered their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Mizuho boosted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Benchmark restated a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $0.95 on Wednesday, reaching $76.40. 289,218 shares of the company’s stock traded hands, compared to its average volume of 3,014,224. 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 $23.32 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The business’s 50 day moving average price is $80.20 and its two-hundred day moving average price is $77.80.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Zoom Video Communications by 4.4% during the fourth quarter. California State Teachers Retirement System now owns 387,108 shares of the company’s stock valued at $31,592,000 after acquiring an additional 16,328 shares during the period. 111 Capital bought a new position in Zoom Video Communications during the fourth quarter valued at about $456,000. NorthCrest Asset Manangement LLC bought a new position in Zoom Video Communications during the fourth quarter valued at about $287,000. Lansforsakringar Fondforvaltning AB publ bought a new position in Zoom Video Communications during the fourth quarter valued at about $7,255,000. Finally, Siemens Fonds Invest GmbH increased its stake in Zoom Video Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock valued at $391,000 after acquiring an additional 174 shares during the period. 66.54% of the stock is currently owned by 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.