Cantor Fitzgerald Reaffirms Neutral Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reiterated by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports. They currently have a $87.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 17.33% from the stock’s current price.

ZM has been the topic of a number of other reports. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Barclays increased their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Piper Sandler raised their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein raised their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $89.57.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $74.15 on Tuesday. The firm has a market cap of $22.73 billion and a PE ratio of 24.72. The firm’s 50 day simple moving average is $82.76 and its 200-day simple moving average is $76.66. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock valued at $31,230,938 over the last 90 days. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC purchased a new position in Zoom Video Communications in the fourth quarter valued at $239,000. Mackenzie Financial Corp increased 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 valued at $5,791,000 after buying an additional 35,230 shares in the last quarter. Forum Financial Management LP acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $345,000. Peak Retirement Planning Inc. acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $961,000. Finally, Toronto Dominion Bank grew its position in shares of Zoom Video Communications by 4.9% in the fourth quarter. Toronto Dominion Bank now owns 33,541 shares of the company’s stock valued at $2,737,000 after purchasing an additional 1,576 shares during the period. 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.