Zoom Video Communications (NASDAQ:ZM) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Zoom Video Communications (NASDAQ:ZM) from a hold rating to a buy rating in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm currently has $100.00 target price on the stock, up from their prior target price of $85.00.

Several other equities analysts have also commented on the stock. Wedbush assumed coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Mizuho increased their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Finally, Barclays lifted their price objective on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.10.

Zoom Video Communications Price Performance

ZM opened at $84.05 on Thursday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The business has a 50-day moving average of $79.55 and a two-hundred day moving average of $68.37. The stock has a market capitalization of $25.76 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $67.79, for a total transaction of $603,398.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 428,513 shares of company stock worth $32,366,914. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications during the 2nd quarter valued at about $33,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter valued at approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $41,000. Allworth Financial LP boosted its position 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 during the period. Finally, Venturi Wealth Management LLC boosted its position in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.