UBS Group Forecasts Strong Price Appreciation for Zoom Video Communications (NASDAQ:ZM) Stock

Zoom Video Communications (NASDAQ:ZM) had its target price raised by UBS Group from $75.00 to $90.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on ZM. Robert W. Baird reduced 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Benchmark upped their target price on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Stock Performance

Shares of ZM opened at $82.69 on Tuesday. The stock has a market capitalization of $25.45 billion, a PE ratio of 27.56, a PEG ratio of 5.69 and a beta of -0.05. The company has a 50 day moving average price of $75.22 and a 200-day moving average price of $66.30. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. This represents a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after acquiring an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. FMR LLC increased its position in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Acadian Asset Management LLC raised its stake in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $62,038,000. 66.54% of the stock is currently 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.