Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $90.00

Zoom Video Communications (NASDAQ:ZM) had its target price increased by UBS Group from $75.00 to $90.00 in a report issued on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on ZM. The Goldman Sachs Group increased their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Tuesday. Finally, Piper Sandler increased their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $85.36 on Tuesday. The stock has a fifty day moving average price of $74.92 and a two-hundred day moving average price of $66.16. The firm has a market cap of $26.27 billion, a P/E ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction on Tuesday, November 5th. The stock was 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 accessible through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the sale, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. The trade was a 89.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 367,108 shares of company stock valued at $26,796,191. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently bought and sold shares of ZM. Pacer Advisors Inc. raised its holdings in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC raised its holdings in Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares in the last quarter. FMR LLC raised its holdings in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Zoom Video Communications during the third quarter valued at about $62,038,000. 66.54% of the stock is currently owned by 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.