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

Zoom Video Communications (NASDAQ:ZM) had its price target increased by equities research analysts at Morgan Stanley from $86.00 to $96.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 14.22% from the stock’s previous close.

Several other analysts also recently weighed in on ZM. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. UBS Group upped their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $87.10.

Zoom Video Communications Price Performance

Shares of ZM opened at $84.05 on Wednesday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a fifty day moving average price of $79.55 and a 200 day moving average price of $68.37. The company has a market cap of $25.76 billion, a P/E ratio of 28.02, a PEG ratio of 5.29 and a beta of -0.03.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 428,513 shares of company stock valued at $32,366,914. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds have recently made changes to their positions in ZM. Baker Avenue Asset Management LP raised its holdings in shares of Zoom Video Communications by 82.1% during the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after acquiring an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Zoom Video Communications in the 2nd quarter worth about $763,000. HighTower Advisors LLC raised its stake in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after buying an additional 167,618 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Zoom Video Communications by 30.1% in the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after buying an additional 151,728 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other 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.