Zoom Video Communications (NASDAQ:ZM) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a hold rating in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has $87.00 price target on the stock.

Several other brokerages also recently weighed in on ZM. The Goldman Sachs Group boosted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Scotiabank raised Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Mizuho raised 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, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price target for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Sixteen 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 company. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $89.10.

Zoom Video Communications Trading Down 1.7 %

Shares of NASDAQ ZM opened at $78.07 on Thursday. The company has a market cap of $23.93 billion, a P/E ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. The stock has a fifty day moving average price of $82.98 and a 200 day moving average price of $71.63. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the transaction, the director now owns 1,514 shares in the company, valued at $113,610.56. This represents a 89.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 525,703 shares of company stock worth $41,265,285. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the company. Choreo LLC bought a new stake in Zoom Video Communications during the second quarter worth approximately $200,000. American Century Companies Inc. boosted its position in Zoom Video Communications by 8.8% during the second quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock worth $4,113,000 after purchasing an additional 5,598 shares during the period. Dimensional Fund Advisors LP boosted its position in Zoom Video Communications by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock worth $80,827,000 after purchasing an additional 264,217 shares during the period. Edgestream Partners L.P. bought a new stake in Zoom Video Communications during the second quarter worth approximately $1,050,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Zoom Video Communications by 40.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,213 shares of the company’s stock worth $591,000 after purchasing an additional 2,955 shares during the period. Institutional investors and hedge funds 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.