Mizuho Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price target raised by equities research analysts at Mizuho from $90.00 to $105.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 29.04% from the stock’s previous close.

Several other research analysts have also weighed in on ZM. Scotiabank raised Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley lifted their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.20.

Zoom Video Communications Stock Performance

Zoom Video Communications stock traded down $7.66 during trading on Tuesday, reaching $81.37. The company had a trading volume of 7,507,508 shares, compared to its average volume of 3,322,417. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 29.21, a PEG 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. The stock’s 50 day moving average price is $73.85 and its two-hundred day moving average price is $65.74.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZM. Innealta Capital LLC bought a new position in Zoom Video Communications during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the second quarter worth $36,000. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications during the third quarter worth $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at $41,000. Finally, Allworth Financial LP increased its position in shares of 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 currently owned by 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.