Morgan Stanley Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price target upped by Morgan Stanley from $79.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC raised Zoom Video Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 target price for the company in a research note on Thursday. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Citigroup lowered their price target on Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, May 15th. Mizuho lowered their price target on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Benchmark restated a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, May 20th. Fifteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.61.

Zoom Video Communications Stock Down 3.4%

ZM stock opened at $79.28 on Thursday. The business has a fifty day moving average of $76.00 and a two-hundred day moving average of $79.76. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. As a group, sell-side analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares of the company’s stock, valued at $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 over the last ninety days. Corporate insiders own 11.51% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the company. SouthState Corp acquired a new position in Zoom Video Communications in the 1st quarter valued at about $25,000. Global X Japan Co. Ltd. increased its position in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares during the period. Wayfinding Financial LLC acquired a new position in Zoom Video Communications in the 1st quarter valued at about $25,000. Parkside Financial Bank & Trust increased its position in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares during the period. Finally, Avior Wealth Management LLC increased its position in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. 66.54% of the stock is owned by hedge funds and other 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.