Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $86.00 at Morgan Stanley

Zoom Video Communications (NASDAQ:ZM) had its target price hoisted by Morgan Stanley from $68.00 to $86.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also commented on ZM. Wedbush started coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.26.

Zoom Video Communications Stock Down 1.8 %

Shares of ZM opened at $81.14 on Wednesday. The stock has a market cap of $24.97 billion, a P/E ratio of 29.08, a P/E/G ratio of 7.12 and a beta of -0.05. The business’s fifty day moving average is $72.07 and its 200 day moving average is $64.84. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $87.15.

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

Insider Activity

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold 372,121 shares of company stock valued at $27,095,467 in the last 90 days. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sei Investments Co. raised its stake in Zoom Video Communications by 42.7% in the first quarter. Sei Investments Co. now owns 224,268 shares of the company’s stock valued at $14,661,000 after purchasing an additional 67,159 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Zoom Video Communications by 33.6% during the 1st quarter. Russell Investments Group Ltd. now owns 361,029 shares of the company’s stock valued at $23,951,000 after buying an additional 90,784 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Zoom Video Communications by 30.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,120 shares of the company’s stock valued at $400,000 after buying an additional 1,433 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 18.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,761 shares of the company’s stock worth $8,482,000 after acquiring an additional 20,367 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Zoom Video Communications by 34.2% in the first quarter. Blair William & Co. IL now owns 150,157 shares of the company’s stock worth $9,816,000 after acquiring an additional 38,308 shares in the last quarter. 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.