Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $85.00 at Barclays

Zoom Video Communications (NASDAQ:ZM) had its price objective boosted by equities researchers at Barclays from $70.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 0.04% from the stock’s previous close.

Several other research analysts also recently commented on the stock. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Stifel Nicolaus boosted their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price target for the company from $70.00 to $115.00 in a research report on Tuesday. Sanford C. Bernstein lifted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Up 1.9 %

ZM stock traded up $1.56 during mid-day trading on Wednesday, hitting $84.97. The stock had a trading volume of 584,109 shares, compared to its average volume of 3,335,128. The firm has a fifty day simple moving average of $74.16 and a 200 day simple moving average of $65.89. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market capitalization of $26.15 billion, a P/E ratio of 28.32, a P/E/G ratio of 7.60 and a beta of -0.05.

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares of the company’s stock, valued at $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at $191,264.81. The trade was a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds and other institutional investors have recently bought and sold shares of ZM. Jacobs Levy Equity Management Inc. bought a new stake in shares of Zoom Video Communications in the 1st quarter worth approximately $260,000. California State Teachers Retirement System boosted its position in Zoom Video Communications by 1.7% during the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock valued at $25,900,000 after buying an additional 6,630 shares during the period. Tidal Investments LLC boosted its position in Zoom Video Communications by 89.7% during the first quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock valued at $2,246,000 after buying an additional 16,248 shares during the period. Comerica Bank grew its stake in shares of Zoom Video Communications by 15.6% during the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after buying an additional 670 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Zoom Video Communications by 27.3% in the first quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company’s stock worth $265,000 after buying an additional 870 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.