Zoom Video Communications (NASDAQ:ZM) Rating Increased to Hold at Cantor Fitzgerald

Zoom Video Communications (NASDAQ:ZM) was upgraded by stock analysts at Cantor Fitzgerald to a “hold” rating in a report issued on Thursday, MarketBeat.com reports. The firm presently has a $87.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential upside of 11.44% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler upped their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Bank of America upped their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.77.

Zoom Video Communications Price Performance

Shares of ZM opened at $78.07 on Thursday. The firm has a market capitalization of $23.93 billion, a P/E ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The business has a fifty day moving average of $83.05 and a 200 day moving average of $71.50.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $2,552,336.90. Following the sale, the chief executive officer now directly owns 57,371 shares in the company, valued at approximately $4,099,157.95. The trade was a 38.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 525,703 shares of company stock valued at $41,265,285 in the last 90 days. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $37,000. Allworth Financial LP boosted its stake in shares of 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 purchasing an additional 180 shares during the period. 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 valued at $53,000 after purchasing an additional 274 shares during the last quarter. Finally, GAMMA Investing LLC raised 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 worth $63,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors 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.