Rosenblatt Securities Reiterates Buy Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $95.00 target price on the stock. Rosenblatt Securities’ price objective points to a potential upside of 28.12% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. UBS Group upped their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Bank of America upped their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.57.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $74.15 on Tuesday. The firm’s 50-day moving average is $82.76 and its 200-day moving average is $76.66. The stock has a market cap of $22.73 billion and a price-to-earnings ratio of 24.72. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Activity

In other news, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 382,242 shares of company stock valued at $31,230,938. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several large investors have recently modified their holdings of the company. Leigh Baldwin & CO. LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth $239,000. Mackenzie Financial Corp grew its holdings in Zoom Video Communications by 98.6% in the fourth quarter. Mackenzie Financial Corp now owns 70,955 shares of the company’s stock worth $5,791,000 after purchasing an additional 35,230 shares during the period. Forum Financial Management LP acquired a new stake in Zoom Video Communications in the fourth quarter worth $345,000. Peak Retirement Planning Inc. acquired a new stake in Zoom Video Communications in the fourth quarter worth $961,000. Finally, Toronto Dominion Bank grew its holdings in shares of Zoom Video Communications by 4.9% during the fourth quarter. Toronto Dominion Bank now owns 33,541 shares of the company’s stock valued at $2,737,000 after buying an additional 1,576 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.