Zoom Video Communications (NASDAQ:ZM) Given New $90.00 Price Target at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM) had its price target upped by Stifel Nicolaus from $70.00 to $90.00 in a report issued on Tuesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other research firms have also recently weighed in on ZM. Benchmark raised their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wedbush started coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Robert W. Baird cut their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley increased their target price on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Bank of America cut their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.20.

Zoom Video Communications Trading Down 6.3 %

ZM opened at $83.41 on Tuesday. The stock has a fifty day moving average price of $74.16 and a 200-day moving average price of $65.89. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market cap of $25.67 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 7.33 and a beta of -0.05.

Insider Activity

In other news, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total value of $165,479.60. Following the sale, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at $5,847,447.32. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in shares of Zoom Video Communications by 110.1% during the first quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock worth $4,220,000 after buying an additional 33,835 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Zoom Video Communications during the 1st quarter valued at about $260,000. California State Teachers Retirement System grew its position in Zoom Video Communications by 1.7% in the 1st quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock valued at $25,900,000 after acquiring an additional 6,630 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Zoom Video Communications by 89.7% during the first quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock worth $2,246,000 after purchasing an additional 16,248 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Zoom Video Communications by 15.6% in the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after purchasing an additional 670 shares in the last quarter. Institutional investors and hedge funds 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.