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

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

ZM has been the subject of several other reports. UBS Group boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group boosted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley lifted their target price 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. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.77.

Zoom Video Communications Stock Performance

Shares of ZM opened at $78.07 on Thursday. The stock has a market capitalization of $23.93 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The stock’s 50-day simple moving average is $83.05 and its 200 day simple moving average is $71.50.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 525,703 shares of company stock valued at $41,265,285. 10.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the stock. Avior Wealth Management LLC raised its holdings in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth $37,000. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 274 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after buying an additional 164 shares during the last quarter. Hedge funds and other 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.