Cantor Fitzgerald Upgrades Zoom Video Communications (NASDAQ:ZM) to “Hold”

Zoom Video Communications (NASDAQ:ZM) was upgraded by analysts at Cantor Fitzgerald to a “hold” rating in a report released on Thursday, Marketbeat Ratings reports. The firm currently has a $87.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 11.44% from the stock’s current price.

A number of other analysts have also commented on ZM. Barclays lifted their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Benchmark increased their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. UBS Group boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Bank of America increased their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.77.

Zoom Video Communications Trading Down 1.7 %

Zoom Video Communications stock opened at $78.07 on Thursday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The company’s 50-day moving average is $83.05 and its two-hundred day moving average is $71.50. The company has a market cap of $23.93 billion, a PE ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the transaction, the chief executive officer now directly owns 57,371 shares in the company, valued at $4,099,157.95. The trade was a 38.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the sale, the insider now owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 525,703 shares of company stock valued at $41,265,285. 10.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in ZM. Baker Avenue Asset Management LP raised its stake in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Zoom Video Communications during the second quarter worth approximately $763,000. HighTower Advisors LLC raised its holdings in Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after acquiring an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications in the third quarter worth $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.