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

Zoom Video Communications (NASDAQ:ZM) had its target price raised by Stifel Nicolaus from $70.00 to $90.00 in a research report released on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued research reports about the company. Wedbush started coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price for the company. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Bank of America cut their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird cut their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Finally, Morgan Stanley raised their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Trading Down 3.1 %

ZM stock opened at $82.69 on Tuesday. The company has a market capitalization of $25.45 billion, a P/E ratio of 27.56, a PEG ratio of 5.69 and a beta of -0.05. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a 50 day simple moving average of $75.22 and a 200-day simple moving average of $66.30.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in Zoom Video Communications during the third quarter worth about $37,000. Innealta Capital LLC acquired a new position in Zoom Video Communications during the 2nd quarter worth about $33,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the second quarter worth about $41,000. Institutional investors own 66.54% of the company’s stock.

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.