Benchmark Boosts Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its target price raised by Benchmark from $83.00 to $85.00 in a research report report published on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on ZM. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an outperform rating on the stock in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a hold rating in a report on Friday, August 23rd. Morgan Stanley cut their price target on Zoom Video Communications from $72.00 to $68.00 and set an equal weight rating on the stock in a research note on Friday, June 14th. Piper Sandler dropped their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications currently 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. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $74.77. The stock has a market capitalization of $21.86 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 6.11 and a beta of -0.04. The stock has a fifty day moving average of $65.62 and a 200-day moving average of $62.45.

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

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $58.64, for a total value of $293,610.48. The disclosure for this sale can be found here. Insiders sold a total of 145,074 shares of company stock valued at $9,595,146 in the last quarter. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in shares of Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications during the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the 2nd quarter worth approximately $41,000. Versant Capital Management Inc raised its stake in shares of Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Zoom Video Communications by 69.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after purchasing an additional 692 shares in 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.