Zoom Video Communications (NASDAQ:ZM) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of Zoom Video Communications (NASDAQ:ZM) from an in-line rating to an outperform rating in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $115.00 price objective on the stock, up from their prior price objective of $70.00.

A number of other research analysts also recently issued reports on the company. Wedbush started coverage on Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Wells Fargo & Company increased their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Robert W. Baird lowered their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Stifel Nicolaus increased their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Down 3.1 %

Shares of NASDAQ ZM opened at $82.69 on Tuesday. The company has a market capitalization of $25.45 billion, a PE ratio of 27.56, a PEG ratio of 5.69 and a beta of -0.05. The stock’s 50 day moving average price is $75.22 and its 200-day moving average price is $66.30. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the completion of the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 in the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in Zoom Video Communications by 110.1% during the first quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock valued at $4,220,000 after purchasing an additional 33,835 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Zoom Video Communications during the 1st quarter valued at about $260,000. California State Teachers Retirement System increased its position in shares of Zoom Video Communications by 1.7% during the 1st quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock valued at $25,900,000 after purchasing an additional 6,630 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Zoom Video Communications by 89.7% during the 1st quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock valued at $2,246,000 after buying an additional 16,248 shares in the last quarter. Finally, Comerica Bank lifted its position in Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock worth $325,000 after buying an additional 670 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

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.