JMP Securities Reiterates “Market Perform” Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “market perform” rating reaffirmed by investment analysts at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports.

Several other brokerages have also issued reports on ZM. Benchmark upped their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday. Morgan Stanley increased their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Price Performance

ZM stock opened at $85.36 on Tuesday. The firm has a 50 day simple moving average of $74.55 and a two-hundred day simple moving average of $66.03. The stock has a market cap of $26.27 billion, a PE ratio of 30.59, a P/E/G ratio of 7.60 and a beta of -0.05. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was 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 in the company, valued at approximately $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Zoom Video Communications by 53.6% during the 3rd quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after acquiring an additional 115,837 shares during the period. Tri Ri Asset Management Corp bought a new position in Zoom Video Communications in the third quarter worth approximately $2,653,000. Sanctuary Advisors LLC boosted its stake in shares of Zoom Video Communications by 22.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock worth $1,047,000 after acquiring an additional 2,714 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of Zoom Video Communications by 0.5% during the 3rd quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock worth $3,455,000 after acquiring an additional 260 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Zoom Video Communications by 32.1% during the 3rd quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock valued at $2,229,000 after acquiring an additional 7,768 shares during the period. 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.