Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $96.00

Zoom Video Communications (NASDAQ:ZM) had its price objective lifted by Morgan Stanley from $86.00 to $96.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus increased 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, November 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group increased their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $87.10.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $85.60 on Wednesday. The stock has a 50 day moving average price of $79.85 and a 200-day moving average price of $68.54. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $26.24 billion, a P/E ratio of 28.53, a P/E/G ratio of 5.29 and a beta of -0.03.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shane Crehan sold 2,478 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $69.09, for a total transaction of $171,205.02. Following the completion of the sale, the chief accounting officer now owns 2,383 shares of the company’s stock, valued at approximately $164,641.47. This trade represents a 50.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 428,513 shares of company stock worth $32,366,914. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $37,000. Innealta Capital LLC purchased a new position in shares of Zoom Video Communications in the 2nd quarter worth about $33,000. Allworth Financial LP increased its position in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications during the 2nd quarter valued at about $41,000. Finally, Venturi Wealth Management LLC lifted its holdings in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after buying an additional 274 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.