Morgan Stanley Boosts Zoom Video Communications (NASDAQ:ZM) Price Target to $86.00

Zoom Video Communications (NASDAQ:ZM) had its target price raised by equities researchers at Morgan Stanley from $68.00 to $86.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 4.08% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Bank of America decreased their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $76.26.

Zoom Video Communications Stock Down 2.8 %

ZM opened at $82.63 on Wednesday. The stock’s 50 day moving average price is $71.48 and its two-hundred day moving average price is $64.59. The firm has a market capitalization of $25.43 billion, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 7.44 and a beta of -0.05. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. As a group, analysts anticipate that Zoom Video Communications will post 2.74 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 372,121 shares of company stock valued at $27,095,467. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in Zoom Video Communications during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications during the second quarter worth approximately $36,000. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications during the third quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications in the second quarter valued at approximately $41,000. Finally, Allworth Financial LP boosted its stake in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

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.