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

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

A number of other equities research analysts have also recently weighed in on ZM. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday. UBS Group lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Down 3.1 %

Shares of NASDAQ ZM opened at $82.69 on Tuesday. The stock’s 50-day moving average is $75.22 and its 200 day moving average is $66.30. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 5.69 and a beta of -0.05.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. This trade represents a 3.70 % 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 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZM. FMR LLC grew its holdings in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp increased its holdings in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares in the last quarter. AQR Capital Management LLC lifted its stake in Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the period. 66.54% of the stock is owned by hedge funds and other 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.