Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $97.00 at Benchmark

Zoom Video Communications (NASDAQ:ZM) had its price objective increased by Benchmark from $85.00 to $97.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on ZM. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. UBS Group boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the company from $70.00 to $115.00 in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.20.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $83.41 on Tuesday. The stock has a market capitalization of $25.67 billion, a PE ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a fifty day moving average price of $74.16 and a two-hundred day moving average price of $65.89.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. This represents a 23.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the sale, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. The trade was a 2.75 % 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 in the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Baker Avenue Asset Management LP grew its stake in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the period. Sanctuary Advisors LLC bought a new position in Zoom Video Communications during the second quarter valued at about $763,000. Robeco Institutional Asset Management B.V. increased its holdings in Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after buying an additional 167,618 shares during the last quarter. National Pension Service raised its position in Zoom Video Communications by 30.1% in the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after acquiring an additional 151,728 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in Zoom Video Communications in the third quarter valued at about $62,038,000. 66.54% of the stock is owned by institutional investors.

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.