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

Zoom Video Communications (NASDAQ:ZM) had its target price raised by Bank of America from $75.00 to $90.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group boosted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Tuesday. Benchmark boosted their target price on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday. Finally, UBS Group boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.20.

Zoom Video Communications Stock Performance

Shares of ZM opened at $83.41 on Tuesday. The stock has a 50 day moving average price of $74.16 and a two-hundred day moving average price of $65.89. The firm has a market capitalization of $25.67 billion, a P/E ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 831 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the 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. Over the last quarter, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Zoom Video Communications in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications during the second quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications during the third quarter valued at about $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications during the second quarter valued at about $41,000. Finally, Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the period. Institutional investors own 66.54% of the company’s stock.

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.