UBS Group Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its target price raised by UBS Group from $75.00 to $90.00 in a research note released on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $85.20.

Zoom Video Communications Stock Down 6.3 %

Shares of ZM stock opened at $83.41 on Tuesday. The company has a market capitalization of $25.67 billion, a P/E ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a 50-day moving average price of $74.16 and a 200 day moving average price of $65.89.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently modified their holdings of ZM. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at $36,000. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the 3rd quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at $41,000. Finally, Allworth Financial LP boosted its holdings in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

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.