Hsbc Global Res Upgrades Zoom Video Communications (NASDAQ:ZM) to Strong-Buy

Zoom Video Communications (NASDAQ:ZM) was upgraded by analysts at Hsbc Global Res to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday. Barclays raised their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Down 3.1 %

NASDAQ ZM opened at $82.69 on Tuesday. The company’s fifty day simple moving average is $75.22 and its 200-day simple moving average is $66.30. The stock has a market cap of $25.45 billion, a P/E ratio of 27.56, a PEG ratio of 5.69 and a beta of -0.05. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. This trade represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds and other institutional investors have recently modified their holdings of ZM. Itau Unibanco Holding S.A. raised its position in Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after purchasing an additional 145 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares during the last quarter. Finally, Menard Financial Group LLC raised its holdings in Zoom Video Communications by 4.0% during the third quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock valued at $302,000 after buying an additional 166 shares in 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.