Cantor Fitzgerald Initiates Coverage on Zoom Video Communications (NASDAQ:ZM)

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $87.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 9.52% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Morgan Stanley raised their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Stifel Nicolaus raised their target price on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein upped their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $87.77.

Zoom Video Communications Price Performance

ZM opened at $79.44 on Friday. The company has a market capitalization of $24.35 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50-day moving average of $83.06 and a 200-day moving average of $71.45.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 35,722 shares of the 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 completion of the transaction, the chief executive officer now owns 57,371 shares in the company, valued at approximately $4,099,157.95. This represents a 38.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the sale, the director now owns 1,514 shares in the company, valued at approximately $113,610.56. This trade represents a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 500,703 shares of company stock worth $39,257,035 over the last three months. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently modified their holdings of the stock. Choreo LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $200,000. American Century Companies Inc. increased its holdings in shares of Zoom Video Communications by 8.8% during the second quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock worth $4,113,000 after buying an additional 5,598 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Zoom Video Communications by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after acquiring an additional 264,217 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $1,050,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in Zoom Video Communications by 40.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,213 shares of the company’s stock worth $591,000 after acquiring an additional 2,955 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.