Stifel Nicolaus Increases Zoom Video Communications (NASDAQ:ZM) Price Target to $70.00

Zoom Video Communications (NASDAQ:ZM) had its price objective raised by analysts at Stifel Nicolaus from $65.00 to $70.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential downside of 0.96% from the stock’s current price.

ZM has been the topic of several other research reports. Benchmark lifted their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Bank of America cut their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Robert W. Baird cut their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.05.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $70.68 on Thursday. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 6.03 and a beta of -0.04. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $74.77. The stock’s 50 day moving average price is $65.37 and its 200 day moving average price is $62.48.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Zoom Video Communications will post 2.74 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the transaction, the chief executive officer now owns 114,341 shares in the company, valued at $7,798,056.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,074 shares of company stock valued at $9,595,146 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently made changes to their positions in ZM. Axiom Advisory LLC increased its position in Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after buying an additional 183 shares during the period. Baader Bank Aktiengesellschaft boosted its position in shares of Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after acquiring an additional 189 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after acquiring an additional 223 shares during the last quarter. Excalibur Management Corp increased its position in Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after acquiring an additional 232 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Zoom Video Communications by 2.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock valued at $669,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds 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.