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

Zoom Video Communications (NASDAQ:ZM) was upgraded by stock analysts at Cantor Fitzgerald to a “hold” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently 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.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, November 22nd. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.77.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $78.07 on Thursday. The firm has a market capitalization of $23.93 billion, a PE ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The company’s 50 day simple moving average is $83.05 and its 200 day simple moving average is $71.50.

Insider Activity

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $13,733,895.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 525,703 shares of company stock valued at $41,265,285. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC boosted its holdings in shares of 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 in the last quarter. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the third quarter valued at about $37,000. Allworth Financial LP lifted its position in 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 buying an additional 180 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after acquiring an additional 164 shares in the last quarter. Institutional investors and hedge funds 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.