Zoom Video Communications (NASDAQ:ZM) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Zoom Video Communications (NASDAQ:ZM) had its target price boosted by equities research analysts at Sanford C. Bernstein from $78.00 to $89.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 4.26% from the company’s current price.

Several other research analysts have also weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. UBS Group boosted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley raised their price objective on 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. The Goldman Sachs Group boosted 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, Scotiabank raised Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Trading Up 2.3 %

Shares of ZM opened at $85.36 on Tuesday. The company’s fifty day simple moving average is $74.55 and its 200 day simple moving average is $66.03. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 7.60 and a beta of -0.05.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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, COO Aparna Bawa sold 880 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. The trade was a 23.85 % 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 90 days. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently made changes to their positions in ZM. Innealta Capital LLC bought a new position in Zoom Video Communications in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $36,000. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the 3rd quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications during the 2nd quarter worth $41,000. Finally, Allworth Financial LP lifted its position 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 buying an additional 180 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

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.