Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $105.00

Zoom Video Communications (NASDAQ:ZM) had its target price boosted by equities researchers at Mizuho from $90.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 29.04% from the stock’s previous close.

Several other brokerages have also commented on ZM. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday. Bank of America increased 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. Finally, The Goldman Sachs Group lifted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $85.20.

Zoom Video Communications Stock Down 8.6 %

Shares of Zoom Video Communications stock traded down $7.66 during mid-day trading on Tuesday, reaching $81.37. 7,507,508 shares of the stock traded hands, compared to its average volume of 3,322,417. The business has a 50-day moving average of $73.85 and a 200 day moving average of $65.74. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market capitalization of $25.04 billion, a PE ratio of 29.21, a PEG ratio of 7.33 and a beta of -0.05.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the 3rd quarter valued at about $37,000. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $33,000. Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications in the second quarter valued at approximately $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $41,000. Institutional investors and hedge funds 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.