Zoom Video Communications (NASDAQ:ZM) Given New $85.00 Price Target at Benchmark

Zoom Video Communications (NASDAQ:ZM) had its price target boosted by Benchmark from $83.00 to $85.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

ZM has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a hold rating in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a hold rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Piper Sandler reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Robert W. Baird lowered their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an outperform rating on the stock in a report on Thursday, August 22nd. Finally, Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a neutral rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of Hold and a consensus target price of $75.05.

Zoom Video Communications Trading Up 1.3 %

NASDAQ:ZM opened at $70.85 on Thursday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $74.77. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 6.03 and a beta of -0.04. The firm has a fifty day simple moving average of $65.14 and a two-hundred day simple moving average of $62.42.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.55 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 10,332 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $56.81, for a total value of $586,960.92. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $112,370.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Aparna Bawa sold 10,332 shares of Zoom Video Communications stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $56.81, for a total value of $586,960.92. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $112,370.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 37,206 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the sale, the chief executive officer now directly owns 114,341 shares in the company, valued at approximately $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,483 shares of company stock valued at $8,442,442. 10.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZM. FIL Ltd grew its holdings in Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after buying an additional 40,456 shares in the last quarter. Clarity Capital Partners LLC purchased a new stake in Zoom Video Communications in the 4th quarter worth approximately $904,000. Scarborough Advisors LLC bought a new position in Zoom Video Communications in the 4th quarter valued at $349,000. Virtu Financial LLC increased its holdings in shares of Zoom Video Communications by 258.8% in the fourth quarter. Virtu Financial LLC now owns 24,637 shares of the company’s stock worth $1,772,000 after purchasing an additional 17,771 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Zoom Video Communications in the fourth quarter worth $1,079,000. 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.