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

Zoom Video Communications (NASDAQ:ZM) had its target price upped by Barclays from $70.00 to $85.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential downside of 0.42% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $115.00 in a report on Tuesday. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Sanford C. Bernstein upped their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Price Performance

Shares of ZM opened at $85.36 on Wednesday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The company 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 simple moving average is $74.92 and its 200 day simple moving average is $66.16.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were 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 approximately $5,847,447.32. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock worth $26,796,191 over the last 90 days. 10.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ZM. Innealta Capital LLC purchased a new position in Zoom Video Communications during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications in the 2nd quarter worth about $36,000. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications in the 3rd quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoom Video Communications in the 2nd quarter worth about $41,000. Finally, Allworth Financial LP grew its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other 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.