Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $96.00 at Morgan Stanley

Zoom Video Communications (NASDAQ:ZM) had its target price lifted by Morgan Stanley from $86.00 to $96.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. Sanford C. Bernstein raised their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. Wedbush initiated coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus increased their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.67.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $82.05 on Wednesday. The business has a 50 day simple moving average of $79.28 and a 200 day simple moving average of $68.26. The firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total value of $603,398.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold 428,513 shares of company stock worth $32,366,914 over the last 90 days. Company insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. lifted its holdings in Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after buying an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after buying an additional 145 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Finally, Menard Financial Group LLC lifted its position in shares of Zoom Video Communications by 4.0% during the third quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after acquiring an additional 166 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.