Zoom Video Communications (NASDAQ:ZM) Given New $86.00 Price Target at The Goldman Sachs Group

Zoom Video Communications (NASDAQ:ZM) had its target price upped by The Goldman Sachs Group from $72.00 to $86.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on ZM. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday. Stifel Nicolaus raised their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $85.20.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $83.41 on Tuesday. The firm has a market cap of $25.67 billion, a PE ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05. The business’s 50 day simple moving average is $74.16 and its 200 day simple moving average is $65.89. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 over the last quarter. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Zoom Video Communications during the 2nd quarter worth $36,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the 3rd quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the 2nd quarter valued at $41,000. Finally, Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors 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.