Morgan Stanley Boosts Zoom Video Communications (NASDAQ:ZM) Price Target to $96.00

Zoom Video Communications (NASDAQ:ZM) had its price target increased by Morgan Stanley from $86.00 to $96.00 in a report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages also recently weighed in on ZM. Barclays raised their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company upped their target price on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $85.67.

Zoom Video Communications Stock Down 3.0 %

Shares of ZM stock opened at $82.05 on Wednesday. The business’s fifty day moving average is $79.28 and its 200 day moving average is $68.26. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 10,871 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $68.12, for a total transaction of $740,532.52. Following the transaction, the chief operating officer now owns 12,498 shares of the company’s stock, valued at approximately $851,363.76. This trade represents a 46.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 428,513 shares of company stock worth $32,366,914. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC grew its holdings in Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the period. FMR LLC grew its holdings in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after acquiring an additional 2,395,396 shares during the period. Acadian Asset Management LLC raised its position in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $62,038,000. Hedge funds and other 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.