Zoom Video Communications (NASDAQ:ZM) Given New $85.00 Price Target at Morgan Stanley

Zoom Video Communications (NASDAQ:ZM - Free Report) had its price objective upped by Morgan Stanley from $79.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

ZM has been the topic of a number of other research reports. Benchmark reiterated a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, May 20th. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Barclays dropped their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC upgraded Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $87.61.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $0.02 during midday trading on Thursday, hitting $79.26. The company's stock had a trading volume of 1,082,417 shares, compared to its average volume of 2,497,930. The stock's 50 day simple moving average is $76.06 and its 200 day simple moving average is $79.74. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. Zoom Video Communications's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the transaction, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Zoom Video Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the last quarter. FMR LLC grew its stake in shares of Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank acquired a new position in shares of Zoom Video Communications during the fourth quarter worth $751,908,000. AQR Capital Management LLC lifted its stake in shares of Zoom Video Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after acquiring an additional 373,509 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Zoom Video Communications by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after acquiring an additional 36,210 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

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.