Cantor Fitzgerald Reiterates “Neutral” Rating for Zoom Video Communications (NASDAQ:ZM)

Cantor Fitzgerald restated their neutral rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $87.00 price target on the stock.

ZM has been the subject of several other reports. UBS Group raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Barclays raised their price target on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $90.05.

Zoom Video Communications Trading Down 1.7 %

Shares of ZM opened at $72.88 on Tuesday. The company has a market cap of $22.34 billion and a price-to-earnings ratio of 24.29. The company’s fifty day simple moving average is $82.54 and its 200 day simple moving average is $76.63. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Insider Activity

In other news, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP increased its stake in shares of Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares during the period. HighTower Advisors LLC increased its position in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the period. Merit Financial Group LLC bought a new position in Zoom Video Communications during the 4th quarter worth approximately $1,072,000. Robeco Institutional Asset Management B.V. grew its holdings in Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications in the 3rd quarter worth about $62,038,000. 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.