Zoom Video Communications (NASDAQ:ZM) Given New $105.00 Price Target at Mizuho

Zoom Video Communications (NASDAQ:ZM) had its price objective lifted by Mizuho from $90.00 to $105.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Morgan Stanley boosted their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their price target on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Robert W. Baird dropped their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.20.

Zoom Video Communications Trading Down 6.3 %

Shares of ZM opened at $83.41 on Tuesday. The company has a market capitalization of $25.67 billion, a PE ratio of 29.90, a PEG ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The stock’s 50-day moving average price is $74.16 and its two-hundred day moving average price is $65.89.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the sale, the chief executive officer now owns 85,514 shares in the company, valued at $5,847,447.32. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,550 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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 represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 367,108 shares of company stock valued at $26,796,191. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tri Ri Asset Management Corp purchased a new stake in shares of Zoom Video Communications in the third quarter worth $2,653,000. Sanctuary Advisors LLC increased its stake in Zoom Video Communications by 22.1% in the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after acquiring an additional 2,714 shares during the last quarter. Hohimer Wealth Management LLC increased its stake in Zoom Video Communications by 0.5% in the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock valued at $3,455,000 after acquiring an additional 260 shares during the last quarter. Toronto Dominion Bank increased its stake in Zoom Video Communications by 32.1% in the third quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock valued at $2,229,000 after acquiring an additional 7,768 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after acquiring an additional 184,518 shares during the last quarter. Hedge funds and other 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.