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

Zoom Video Communications (NASDAQ:ZM) had its price objective raised by Morgan Stanley from $68.00 to $86.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Wells Fargo & Company raised their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Benchmark increased 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 note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average price target of $76.26.

Zoom Video Communications Stock Down 1.5 %

Shares of ZM stock opened at $85.04 on Wednesday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $87.15. The company has a market capitalization of $26.17 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 7.44 and a beta of -0.05. The firm has a 50 day moving average price of $71.14 and a two-hundred day moving average price of $64.45.

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

Insider Activity

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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at $191,264.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 372,121 shares of company stock valued at $27,095,467. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. FORA Capital LLC purchased a new position in shares of Zoom Video Communications in the third quarter worth about $1,294,000. MetLife Investment Management LLC boosted its holdings in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. CreativeOne Wealth LLC grew its stake in Zoom Video Communications by 29.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 8,287 shares of the company’s stock valued at $578,000 after buying an additional 1,862 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Zoom Video Communications in the 3rd quarter valued at approximately $563,000. Finally, Glenmede Trust Co. NA lifted its position in shares of Zoom Video Communications by 5.4% during the third quarter. Glenmede Trust Co. NA now owns 264,071 shares of the company’s stock worth $18,416,000 after acquiring an additional 13,513 shares in 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.