Barclays Forecasts Strong Price Appreciation for Zoom Video Communications (NASDAQ:ZM) Stock

Zoom Video Communications (NASDAQ:ZM) had its price target lifted by equities researchers at Barclays from $70.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential downside of 0.42% from the company’s current price.

Several other analysts have also commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Stifel Nicolaus boosted their price target on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Trading Up 2.3 %

Shares of ZM stock opened at $85.36 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 market capitalization of $26.27 billion, a P/E ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. The firm’s 50 day moving average is $74.92 and its 200 day moving average is $66.16.

Insider Buying and Selling

In related news, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. This trade represents a 89.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was 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. Over the last three months, insiders have sold 367,108 shares of company stock worth $26,796,191. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Zoom Video Communications in the 1st quarter worth about $260,000. California State Teachers Retirement System lifted its stake in Zoom Video Communications by 1.7% in the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after purchasing an additional 6,630 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Zoom Video Communications by 89.7% during the first quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock valued at $2,246,000 after buying an additional 16,248 shares during the period. Comerica Bank grew its stake in shares of Zoom Video Communications by 15.6% during the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after buying an additional 670 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in shares of Zoom Video Communications by 27.3% in the first quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company’s stock worth $265,000 after buying an additional 870 shares during the period. 66.54% of the stock is owned by institutional investors.

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.