Mizuho Forecasts Strong Price Appreciation for Zoom Video Communications (NASDAQ:ZM) Stock

Zoom Video Communications (NASDAQ:ZM) had its price target upped by equities research analysts at Mizuho from $90.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 23.01% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler lifted their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Morgan Stanley increased their price target on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. UBS Group boosted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird cut their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Stock Up 2.3 %

NASDAQ:ZM opened at $85.36 on Tuesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a fifty day moving average of $74.55 and a 200-day moving average of $66.03. The firm has a market capitalization of $26.27 billion, a P/E ratio of 30.59, a P/E/G ratio of 7.60 and a beta of -0.05.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was 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. Insiders have sold 367,108 shares of company stock worth $26,796,191 in the last 90 days. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently bought and sold shares of the company. Baker Avenue Asset Management LP lifted its position in shares of Zoom Video Communications by 82.1% during the 3rd 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 last quarter. Sanctuary Advisors LLC bought a new stake in Zoom Video Communications in the 2nd quarter valued at about $763,000. Robeco Institutional Asset Management B.V. lifted its holdings in Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares during the last quarter. National Pension Service boosted its position in Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after purchasing an additional 151,728 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Zoom Video Communications in the third quarter worth about $62,038,000. 66.54% of the stock is owned by institutional investors.

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.