Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $86.00

Zoom Video Communications (NASDAQ:ZM) had its price objective lifted by The Goldman Sachs Group from $72.00 to $86.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Benchmark boosted their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $70.00 to $115.00 in a research report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Piper Sandler lifted their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Trading Up 2.3 %

Shares of NASDAQ:ZM opened at $85.36 on Tuesday. The company has a market capitalization of $26.27 billion, a PE ratio of 28.45, a P/E/G ratio of 7.12 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 firm has a 50 day simple moving average of $74.92 and a 200-day simple moving average of $66.16.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total transaction of $165,479.60. Following the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at $5,847,447.32. This represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $36,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $41,000. Finally, Allworth Financial LP boosted its position in shares of Zoom Video Communications by 43.8% in 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. 66.54% of the stock is 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.