Morgan Stanley Raises Zoom Video Communications (NASDAQ:ZM) Price Target to $86.00

Zoom Video Communications (NASDAQ:ZM) had its target price raised by Morgan Stanley from $68.00 to $86.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

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

Zoom Video Communications Trading Down 1.8 %

Shares of Zoom Video Communications stock opened at $81.14 on Wednesday. The stock’s fifty day simple moving average is $72.07 and its 200 day simple moving average is $64.84. The company has a market capitalization of $24.97 billion, a PE ratio of 29.08, a PEG ratio of 7.12 and a beta of -0.05. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last released 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. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.55 earnings per share. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. Analysts predict that Zoom Video Communications will post 2.74 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly Steckelberg sold 5,013 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,121 shares of company stock worth $27,095,467. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the second quarter worth approximately $36,000. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the 3rd quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoom Video Communications during the second quarter worth $41,000. Finally, Allworth Financial LP grew its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing 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.