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

Zoom Video Communications (NASDAQ:ZM) had its target price boosted by stock analysts at Benchmark from $85.00 to $97.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 13.64% from the stock’s current price.

A number of other research firms have also issued reports on ZM. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday. Wedbush began coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. UBS Group boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Robert W. Baird cut their price objective on 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, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $85.36 on Tuesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The business’s fifty day moving average is $74.55 and its 200-day moving average is $66.03. The stock has a market cap of $26.27 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 7.60 and a beta of -0.05.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,550 shares of the 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 transaction, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This represents a 51.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 in the last three months. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in Zoom Video Communications during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth $36,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the 3rd quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoom Video Communications in the 2nd quarter worth $41,000. Finally, Allworth Financial LP lifted its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. 66.54% of the stock is 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.