Zoom Video Communications (NASDAQ:ZM) Price Target Increased to $70.00 by Analysts at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM) had its price objective boosted by Stifel Nicolaus from $65.00 to $70.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler decreased their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Rosenblatt Securities reiterated a buy rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, October 4th. Benchmark increased their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a buy rating in a research report on Thursday. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an outperform rating for the company in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a hold rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $75.05.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $70.68 on Thursday. The company has a 50-day simple moving average of $65.62 and a 200-day simple moving average of $62.48. The firm has a market capitalization of $21.75 billion, a P/E ratio of 25.33, a P/E/G ratio of 6.11 and a beta of -0.04. Zoom Video Communications has a one year low of $55.06 and a one year high of $74.77.

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

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,206 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the sale, the insider now directly owns 104,414 shares of the company’s stock, valued at $7,257,817.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 37,206 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at $7,798,056.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,074 shares of company stock valued at $9,595,146. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after buying an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC increased its holdings in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Vanguard Group Inc. increased its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares during the last quarter. Finally, Retirement Systems of Alabama acquired a new position in Zoom Video Communications in the first quarter worth approximately $42,289,000. 66.54% of the stock is owned by hedge funds and other 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.