Stifel Nicolaus Increases Zoom Video Communications (NASDAQ:ZM) Price Target to $90.00

Zoom Video Communications (NASDAQ:ZM) had its target price increased by equities research analysts at Stifel Nicolaus from $70.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 5.44% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Benchmark lifted their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $115.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $85.36 on Tuesday. 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. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm’s 50 day simple moving average is $74.55 and its two-hundred day simple moving average is $66.03.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock valued at $26,796,191 over the last ninety days. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Zoom Video Communications during the second quarter valued at approximately $36,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the third quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth approximately $41,000. Finally, Allworth Financial LP lifted its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the last quarter. 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.