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

Zoom Video Communications (NASDAQ:ZM) had its target price increased by equities research analysts at Morgan Stanley from $68.00 to $86.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 0.47% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their price target on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Benchmark raised their price target on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, October 10th. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.26.

Zoom Video Communications Stock Performance

ZM stock traded down $0.72 on Wednesday, reaching $85.60. The company’s stock had a trading volume of 1,371,060 shares, compared to its average volume of 3,226,070. The business has a fifty day simple moving average of $71.14 and a two-hundred day simple moving average of $64.45. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $87.15. The firm has a market cap of $26.35 billion, a PE ratio of 30.68, a PEG ratio of 7.44 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. As a group, research analysts anticipate that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction that occurred 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 document filed with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications 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 completion of the sale, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 372,121 shares of company stock valued at $27,095,467. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after acquiring an additional 145 shares during the period. Allworth Financial LP boosted its stake in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the last quarter. Axiom Advisory LLC boosted its stake in Zoom Video Communications by 1.6% in the third quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after acquiring an additional 183 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its stake in Zoom Video Communications by 0.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after acquiring an additional 189 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after acquiring an additional 223 shares during the last quarter. 66.54% of the stock is currently 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.