Stifel Nicolaus Boosts Zoom Communications (NASDAQ:ZM) Price Target to $90.00

Key Points

• Stifel Nicolaus has raised its price target for Zoom Communications from $80 to $90, suggesting a potential upside of 3.55% from the current stock price.
• Zoom stock currently holds an average target price of $91.30, with a consensus rating of "Hold" among analysts.
• Insider trading activity indicates a decrease in ownership, with directors selling a combined total of over 90,000 shares in recent months.

Zoom Communications (NASDAQ:ZM - Free Report) had its price objective raised by Stifel Nicolaus from $80.00 to $90.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages also recently weighed in on ZM. Benchmark upped their price target on shares of Zoom Communications from $102.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday. Mizuho increased their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Wedbush reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Communications in a research note on Friday, August 22nd. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price objective on shares of Zoom Communications in a research note on Thursday. Finally, Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $91.30.

Zoom Communications Trading Down 3.1%

NASDAQ ZM traded down $2.67 during trading on Thursday, reaching $84.16. The company's stock had a trading volume of 5,930,934 shares, compared to its average volume of 3,897,256. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 12.10 and a beta of 0.57. Zoom Communications has a 12 month low of $64.41 and a 12 month high of $92.80. The firm has a 50 day moving average price of $77.53 and a 200 day moving average price of $76.97.

Insider Activity at Zoom Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $83.40, for a total transaction of $206,415.00. Following the completion of the sale, the director directly owned 155,119 shares in the company, valued at $12,936,924.60. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 2,595 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $85.09, for a total transaction of $220,808.55. Following the sale, the insider owned 130,242 shares of the company's stock, valued at approximately $11,082,291.78. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,400 shares of company stock valued at $6,871,114 over the last 90 days. 11.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZM. Wedmont Private Capital raised its holdings in Zoom Communications by 4.1% in the second quarter. Wedmont Private Capital now owns 3,499 shares of the company's stock worth $271,000 after purchasing an additional 137 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Zoom Communications by 6.7% in the first quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company's stock worth $172,000 after purchasing an additional 143 shares in the last quarter. Wynn Capital LLC raised its holdings in Zoom Communications by 1.6% in the first quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Zoom Communications by 12.6% in the second quarter. Penserra Capital Management LLC now owns 1,446 shares of the company's stock worth $111,000 after purchasing an additional 162 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Zoom Communications by 0.7% in the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after purchasing an additional 171 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom 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.