Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $80.00

Zoom Video Communications (NASDAQ:ZM - Free Report) had its price target hoisted by Wells Fargo & Company from $75.00 to $80.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Benchmark reaffirmed a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Stifel Nicolaus cut their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. UBS Group dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Fifteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.61.

Zoom Video Communications Stock Down 3.4%

Shares of ZM stock traded down $2.79 on Thursday, reaching $79.28. The company's stock had a trading volume of 4,178,449 shares, compared to its average volume of 2,980,770. The stock's 50 day simple moving average is $76.00 and its 200-day simple moving average is $79.76. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market capitalization of $24.20 billion, a P/E ratio of 26.43, a PEG ratio of 5.48 and a beta of 0.79.

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

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 over the last ninety days. Company insiders own 11.51% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently modified their holdings of the company. Swedbank AB increased its stake in shares of Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock worth $6,712,000 after purchasing an additional 40,351 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after purchasing an additional 7,518 shares in the last quarter. Silver Lake Advisory LLC grew its position in shares of Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company's stock valued at $3,291,000 after buying an additional 4,745 shares during the last quarter. Caprock Group LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth about $288,000. Finally, McAdam LLC bought a new position in Zoom Video Communications in the 4th quarter worth about $410,000. Institutional investors and hedge funds 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.