Zoom Video Communications (NASDAQ:ZM) Upgraded to “Buy” at Jefferies Financial Group

Zoom Video Communications (NASDAQ:ZM) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Thursday,Benzinga reports. The firm presently has a $100.00 price objective on the stock, up from their prior price objective of $85.00. Jefferies Financial Group’s price target would indicate a potential upside of 21.88% from the company’s previous close.

A number of other research firms have also recently weighed in on ZM. Wedbush assumed coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Stifel Nicolaus lifted their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $87.10.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $82.05 on Thursday. The business’s 50 day moving average price is $79.28 and its 200 day moving average price is $68.26. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The disclosure for this sale can be found here. Insiders have sold a total of 428,513 shares of company stock worth $32,366,914 in the last quarter. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the third quarter valued at approximately $37,000. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the 2nd quarter valued at $33,000. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications in the second quarter valued at $41,000. Finally, Venturi Wealth Management LLC boosted its stake in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

About Zoom Video Communications

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.