Zoom Video Communications (NASDAQ:ZM) Stock Price Expected to Rise, UBS Group Analyst Says

Zoom Video Communications (NASDAQ:ZM) had its target price raised by equities researchers at UBS Group from $75.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 9.70% from the company’s previous close.

ZM has been the topic of several other research reports. Wells Fargo & Company lifted their price target on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. 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. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $82.55.

Zoom Video Communications Price Performance

Shares of ZM traded down $6.99 during mid-day trading on Tuesday, reaching $82.04. The company’s stock had a trading volume of 5,698,814 shares, compared to its average volume of 3,312,091. The company’s 50 day moving average is $73.85 and its 200 day moving average is $65.74. The stock has a market cap of $25.25 billion, a PE ratio of 29.41, a price-to-earnings-growth 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.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at $113,610.56. This trade represents a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last ninety days. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC raised its stake in shares of Zoom Video Communications by 22.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after purchasing an additional 2,714 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in Zoom Video Communications in the third quarter valued at about $2,676,000. Hohimer Wealth Management LLC raised its stake in Zoom Video Communications by 0.5% during the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock valued at $3,455,000 after buying an additional 260 shares in the last quarter. Toronto Dominion Bank raised its stake in Zoom Video Communications by 32.1% during the third quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock valued at $2,229,000 after buying an additional 7,768 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares during 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.