Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $90.00

Zoom Video Communications (NASDAQ:ZM) had its price target hoisted by Stifel Nicolaus from $70.00 to $90.00 in a research report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other analysts have also recently weighed in on ZM. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $115.00 in a report on Tuesday. Robert W. Baird cut their price objective 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. Benchmark raised their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

ZM stock opened at $85.36 on Tuesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company’s 50 day moving average is $74.92 and its two-hundred day moving average is $66.16. The stock has a market cap of $26.27 billion, a P/E ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05.

Insider Transactions at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 14,151 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.12, for a total value of $963,966.12. Following the sale, the chief financial officer now directly owns 140,427 shares of the company’s stock, valued at approximately $9,565,887.24. This represents a 9.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. 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 ninety days. 10.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at about $36,000. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the 3rd quarter valued at about $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at about $41,000. Finally, Allworth Financial LP grew its stake in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $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.

About Zoom Video Communications

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.