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

Zoom Video Communications (NASDAQ:ZM) had its target price upped by research analysts at UBS Group from $75.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 5.44% from the stock’s previous close.

Several other research firms have also recently weighed in on ZM. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Benchmark raised their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley boosted their price target on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

ZM stock opened at $85.36 on Tuesday. The firm’s 50-day moving average price is $74.55 and its two-hundred day moving average price is $66.03. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 7.60 and a beta of -0.05. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total value of $165,479.60. Following the completion of the transaction, the chief executive officer now owns 85,514 shares in the company, valued at $5,847,447.32. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. The trade was a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Baker Avenue Asset Management LP boosted its holdings in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter valued at $763,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Zoom Video Communications by 15.4% in the 3rd 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 grew its holdings in shares of 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 stake in Zoom Video Communications during the third quarter valued at $62,038,000. 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.