Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $89.00 at Piper Sandler

Zoom Video Communications (NASDAQ:ZM) had its price target upped by investment analysts at Piper Sandler from $68.00 to $89.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 4.26% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Robert W. Baird dropped their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Stock Up 2.3 %

Shares of Zoom Video Communications stock opened at $85.36 on Tuesday. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 7.60 and a beta of -0.05. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a 50-day simple moving average of $74.55 and a two-hundred day simple moving average of $66.03.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This represents a 51.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 over the last 90 days. 10.78% of the stock is owned by insiders.

Institutional Trading of Zoom Video Communications

A number of large investors have recently bought and sold shares of ZM. Lazard Asset Management LLC grew its holdings in Zoom Video Communications by 110.1% in the first quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock worth $4,220,000 after purchasing an additional 33,835 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Zoom Video Communications during the first quarter valued at approximately $260,000. California State Teachers Retirement System raised its position in shares of Zoom Video Communications by 1.7% during the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after purchasing an additional 6,630 shares during the period. Tidal Investments LLC lifted its holdings in shares of Zoom Video Communications by 89.7% in the 1st 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 position in Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after purchasing an additional 670 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.