Benchmark Increases Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its target price boosted by research analysts at Benchmark from $83.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 20.26% from the stock’s previous close.

Several other equities analysts also recently commented on ZM. Wells Fargo & Company upped their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Bank of America decreased their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Piper Sandler decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Robert W. Baird cut 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. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $75.05.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $70.68 on Thursday. The firm has a market cap of $21.75 billion, a PE ratio of 25.33, a P/E/G ratio of 6.03 and a beta of -0.04. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $74.77. The stock has a fifty day moving average price of $65.37 and a 200-day moving average price of $62.48.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. As a group, equities analysts anticipate that Zoom Video Communications will post 2.74 EPS for the current fiscal year.

Insider Activity

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the firm’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 owns 1,463 shares of the company’s stock, valued at $97,830.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,074 shares of company stock valued at $9,595,146. 10.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently made changes to their positions in the business. FIL Ltd boosted its stake in shares of Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after purchasing an additional 40,456 shares in the last quarter. Clarity Capital Partners LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $904,000. Scarborough Advisors LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $349,000. Virtu Financial LLC raised its position in shares of Zoom Video Communications by 258.8% in the 4th quarter. Virtu Financial LLC now owns 24,637 shares of the company’s stock worth $1,772,000 after acquiring an additional 17,771 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Zoom Video Communications in the 4th quarter valued at approximately $1,079,000. 66.54% of the stock is currently 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.