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

Zoom Video Communications (NASDAQ:ZM) had its price target boosted by stock analysts at The Goldman Sachs Group from $72.00 to $86.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 1.90% from the company’s current price.

ZM has been the topic of a number of other research reports. Benchmark boosted their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley upped their target price on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $115.00 in a report on Tuesday. Robert W. Baird decreased their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $82.16.

Zoom Video Communications Trading Down 5.2 %

Shares of NASDAQ ZM opened at $84.40 on Tuesday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The firm’s 50-day moving average price is $73.85 and its 200-day moving average price is $65.74. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 7.33 and a beta of -0.05.

Insider Activity

In other news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 in the last three months. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at about $36,000. Truvestments Capital LLC purchased a new position in Zoom Video Communications during the third quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications during the second quarter worth $41,000. Finally, Allworth Financial LP grew its holdings in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other 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.