Zoom Video Communications (NASDAQ:ZM) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. Sanford C. Bernstein raised their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday. UBS Group lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. Benchmark upped their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America increased their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Stock Performance

Shares of ZM opened at $82.69 on Tuesday. The firm has a market capitalization of $25.45 billion, a PE ratio of 27.56, a P/E/G ratio of 5.69 and a beta of -0.05. The stock has a 50 day simple moving average of $75.22 and a 200 day simple moving average of $66.30. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock worth $26,796,191 over the last 90 days. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. boosted its holdings in Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the period. MML Investors Services LLC boosted its stake in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after buying an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares in the last quarter. MetLife Investment Management LLC increased its stake in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares during the period. Finally, Menard Financial Group LLC increased its stake in Zoom Video Communications by 4.0% during the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after acquiring an additional 166 shares during the period. 66.54% of the stock is currently 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.