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

Zoom Video Communications (NASDAQ:ZM) had its price target hoisted by stock analysts at Piper Sandler from $68.00 to $89.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 0.03% from the company’s previous close.

A number of other equities analysts also recently commented on ZM. Benchmark upped their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $81.94.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $89.03 on Tuesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock’s 50-day moving average is $73.85 and its 200 day moving average is $65.74. The company has a market cap of $27.40 billion, a PE ratio of 31.91, a P/E/G ratio of 7.33 and a beta of -0.05.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total value of $165,479.60. Following the completion of the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 831 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 over the last three months. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

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