Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $70.00

Zoom Video Communications (NASDAQ:ZM) had its price target lifted by Wells Fargo & Company from $60.00 to $70.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Bank of America lowered their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Wedbush initiated coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Benchmark increased their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Trading Down 3.1 %

NASDAQ ZM opened at $82.69 on Tuesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a 50-day moving average of $75.22 and a 200 day moving average of $66.30. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 5.69 and a beta of -0.05.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. The trade was a 23.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. This represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently modified their holdings of ZM. Itau Unibanco Holding S.A. increased its holdings in shares of Zoom Video Communications by 1.9% in the 3rd 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 in the last quarter. MML Investors Services LLC lifted its stake in Zoom Video Communications by 1.4% in 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 holdings in Zoom Video Communications by 1.9% during 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 during the last quarter. MetLife Investment Management LLC grew its stake 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 purchasing an additional 154 shares in the last quarter. Finally, Menard Financial Group LLC grew its position in Zoom Video Communications by 4.0% in the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after purchasing an additional 166 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.