Zoom Video Communications (NASDAQ:ZM) Stock Price Expected to Rise, Mizuho Analyst Says

Zoom Video Communications (NASDAQ:ZM) had its target price upped by research analysts at Mizuho from $90.00 to $105.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 23.01% from the company’s previous close.

ZM has been the subject of several other reports. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their target price 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. Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Finally, Wedbush started 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. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Stock Up 2.3 %

NASDAQ ZM opened at $85.36 on Tuesday. The firm has a 50-day moving average price of $74.55 and a two-hundred day moving average price of $66.03. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market capitalization of $26.27 billion, a P/E ratio of 30.59, a P/E/G ratio of 7.60 and a beta of -0.05.

Insider Buying and Selling

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock worth $26,796,191 in the last 90 days. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of Zoom Video Communications by 53.6% in the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock worth $22,537,000 after acquiring an additional 115,837 shares during the period. Tri Ri Asset Management Corp acquired a new position in shares of Zoom Video Communications in the 3rd quarter worth approximately $2,653,000. Sanctuary Advisors LLC boosted its stake in shares of Zoom Video Communications by 22.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after purchasing an additional 2,714 shares during the last quarter. Hohimer Wealth Management LLC increased its position in shares of Zoom Video Communications by 0.5% during the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock worth $3,455,000 after buying an additional 260 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Zoom Video Communications by 32.1% during the third quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock worth $2,229,000 after buying an additional 7,768 shares during the period. Institutional investors own 66.54% of the company’s stock.

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.