Zoom Video Communications (NASDAQ:ZM) Stock Price Expected to Rise, Barclays Analyst Says

Zoom Video Communications (NASDAQ:ZM) had its target price lifted by Barclays from $70.00 to $85.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

ZM has been the subject of a number of other research reports. Wedbush began coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, UBS Group boosted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Stock Up 2.3 %

NASDAQ:ZM opened at $85.36 on Wednesday. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 7.60 and a beta of -0.05. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a 50 day moving average of $74.55 and a 200 day moving average of $66.03.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Janet Napolitano sold 4,477 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $69.39, for a total transaction of $310,659.03. Following the completion of the sale, the director now directly owns 2,984 shares of the company’s stock, valued at approximately $207,059.76. The trade was a 60.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 367,108 shares of company stock valued at $26,796,191. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Zoom Video Communications by 53.6% in the 3rd quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after purchasing an additional 115,837 shares in the last quarter. Tri Ri Asset Management Corp purchased a new position in shares of Zoom Video Communications in the third quarter worth about $2,653,000. Sanctuary Advisors LLC grew its stake in Zoom Video Communications by 22.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after acquiring an additional 2,714 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in Zoom Video Communications by 0.5% during the 3rd quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock valued at $3,455,000 after acquiring an additional 260 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Zoom Video Communications by 32.1% during the 3rd quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock valued at $2,229,000 after acquiring an additional 7,768 shares in the last quarter. 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.