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

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $95.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.29% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Benchmark increased their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

NASDAQ:ZM opened at $85.36 on Tuesday. The stock has a fifty day moving average price of $74.55 and a 200 day moving average price of $66.03. The firm has a market cap of $26.27 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 7.60 and a beta of -0.05. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. The trade was a 51.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 880 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications during the second quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications during the 3rd quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications during the second quarter worth approximately $41,000. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.