Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $96.00

Zoom Video Communications (NASDAQ:ZM) had its price objective hoisted by investment analysts at Morgan Stanley from $86.00 to $96.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 13.48% from the stock’s current price.

A number of other research firms have also recently issued reports on ZM. Stifel Nicolaus increased their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler boosted their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein upped their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $85.67.

Zoom Video Communications Stock Up 1.0 %

NASDAQ:ZM opened at $84.60 on Wednesday. The firm has a market capitalization of $25.93 billion, a P/E ratio of 28.20, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a fifty day moving average of $79.04 and a 200-day moving average of $68.17.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 10,338 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares in the company, valued at approximately $7,257,817.14. The trade was a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet Napolitano sold 4,477 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $69.39, for a total value of $310,659.03. Following the completion of the sale, the director now directly owns 2,984 shares of the company’s stock, valued at approximately $207,059.76. This represents a 60.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 428,513 shares of company stock worth $32,366,914. Corporate insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Several large investors have recently modified their holdings of ZM. Retirement Systems of Alabama lifted its holdings in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock worth $63,031,000 after buying an additional 293,375 shares during the period. Franklin Resources Inc. increased its stake in shares of Zoom Video Communications by 53.6% during the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after buying an additional 115,837 shares during the period. Tri Ri Asset Management Corp purchased a new stake in Zoom Video Communications in the third quarter worth $2,653,000. Sanctuary Advisors LLC boosted its holdings in Zoom Video Communications by 22.1% in the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after acquiring an additional 2,714 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its position in Zoom Video Communications by 0.5% during the 3rd quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock valued at $3,455,000 after purchasing an additional 260 shares during the period. 66.54% of the stock is 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.