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

Zoom Video Communications (NASDAQ:ZM) had its price target upped by research analysts at UBS Group from $75.00 to $90.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 5.44% from the company’s current price.

Other analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. The Goldman Sachs Group upped their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Piper Sandler raised their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Bank of America dropped their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $85.36 on Tuesday. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The business has a fifty day moving average price of $74.55 and a 200-day moving average price of $66.03. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 7.60 and a beta of -0.05.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in Zoom Video Communications in the third quarter worth about $37,000. Innealta Capital LLC bought a new position in Zoom Video Communications in the 2nd quarter worth about $33,000. Allworth Financial LP increased its holdings 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 purchasing an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications in the second quarter valued at about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications in the 2nd quarter worth approximately $41,000. Institutional investors own 66.54% of the company’s stock.

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.