Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $85.00 at Barclays

Zoom Video Communications (NASDAQ:ZM) had its price objective hoisted by Barclays from $70.00 to $85.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on ZM. UBS Group lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday. The Goldman Sachs Group lifted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

NASDAQ:ZM opened at $85.36 on Wednesday. The stock has a 50-day moving average price of $74.55 and a 200 day moving average price of $66.03. The stock 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 12-month low of $55.06 and a 12-month high of $92.80.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 directly owns 1,463 shares of the company’s stock, valued at $97,830.81. The trade was a 51.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 880 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZM. Baker Avenue Asset Management LP grew its holdings in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after acquiring an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Zoom Video Communications during the second quarter valued at approximately $763,000. Robeco Institutional Asset Management B.V. raised its stake in Zoom Video Communications by 15.4% in the third 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 in the last quarter. National Pension Service lifted its holdings in Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications during the 3rd quarter valued at $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.