Zoom Video Communications (NASDAQ:ZM) Stock Rating Upgraded by Evercore ISI

Zoom Video Communications (NASDAQ:ZM) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $115.00 price objective on the stock, up from their previous price objective of $70.00. Evercore ISI’s price target points to a potential upside of 29.17% from the stock’s previous close.

Several other research firms have also recently issued reports on ZM. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Wedbush assumed coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.11.

Zoom Video Communications Stock Up 3.7 %

Zoom Video Communications stock opened at $89.03 on Tuesday. The company has a fifty day simple moving average of $73.85 and a 200-day simple moving average of $65.74. The firm has a market capitalization of $27.40 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This represents a 51.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 880 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares in the company, valued at $191,264.81. The trade was a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,108 shares of company stock valued at $26,796,191. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications during the second quarter worth $36,000. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the third quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications during the 2nd quarter worth $41,000. Finally, Allworth Financial LP grew its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors 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.