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

Zoom Video Communications (NASDAQ:ZM) had its price target increased by Morgan Stanley from $68.00 to $86.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the company. Robert W. Baird cut their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Finally, UBS Group upgraded Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.26.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $85.04 on Wednesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $87.15. The business’s fifty day moving average is $71.14 and its two-hundred day moving average is $64.45. The stock has a market capitalization of $26.17 billion, a P/E ratio of 30.48, a P/E/G ratio of 7.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. On average, research analysts forecast that Zoom Video Communications will post 2.74 earnings per share for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,550 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 $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 372,121 shares of company stock valued at $27,095,467. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in ZM. Pacer Advisors Inc. boosted its position in 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 stake in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares in the last quarter. FMR LLC increased its holdings in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications during the third quarter worth approximately $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.