Rosenblatt Securities Begins Coverage on Zoom Video Communications (NASDAQ:ZM)

Analysts at Rosenblatt Securities assumed coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a research note issued on Tuesday, April 30th, The Fly reports. The firm set a “neutral” rating and a $60.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential downside of 33.32% from the company’s current price.

Several other brokerages have also issued reports on ZM. Sanford C. Bernstein began coverage on Zoom Video Communications in a research report on Monday, April 29th. They set an “outperform” rating and a $45.00 target price for the company. Summit Insights began coverage on Zoom Video Communications in a research report on Monday, April 22nd. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Zoom Video Communications has an average rating of “Hold” and an average price target of $75.72.

Shares of ZM stock traded up $6.58 during trading hours on Tuesday, reaching $89.98. The company’s stock had a trading volume of 3,388,422 shares, compared to its average volume of 3,295,699. Zoom Video Communications has a fifty-two week low of $59.94 and a fifty-two week high of $90.28.

In other news, major shareholder Emergence Capital Partners Iii sold 912,026 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $31,191,289.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl M. Eschenbach sold 828,437 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $28,332,545.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,405,918 shares of company stock valued at $83,480,215.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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The Fly

Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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