Zoom Video Communications (ZM) Coverage Initiated by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a research note issued on Monday, MarketBeat reports. The brokerage set an “equal weight” rating and a $75.00 price target on the stock. Morgan Stanley’s target price would suggest a potential downside of 12.96% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Zoom Video Communications in a report on Monday. They issued a “hold” rating and a $75.00 price target for the company. Bank of America started coverage on shares of Zoom Video Communications in a report on Monday. They issued a “buy” rating and a $89.00 price target for the company. Credit Suisse Group started coverage on shares of Zoom Video Communications in a report on Monday. They issued a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of Zoom Video Communications in a report on Monday. They issued a “neutral” rating and a $47.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Zoom Video Communications in a report on Monday. They issued an “overweight” rating and a $113.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.72.

Shares of NASDAQ ZM traded up $6.41 during trading hours on Monday, hitting $86.17. 31,685 shares of the stock were exchanged, compared to its average volume of 3,216,283. Zoom Video Communications has a one year low of $59.94 and a one year high of $80.79.



In other news, Director Carl M. Eschenbach sold 828,437 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $28,332,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Emergence Capital Partners Iii sold 912,026 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $31,191,289.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,405,918 shares of company stock valued at $83,480,215.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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