Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $97.00 at Benchmark

Zoom Video Communications (NASDAQ:ZM) had its target price increased by equities researchers at Benchmark from $85.00 to $97.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 19.21% from the company’s previous close.

ZM has been the subject of several other reports. Robert W. Baird lowered their price target on 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. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $70.00 to $115.00 in a report on Tuesday. Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Piper Sandler lifted their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.20.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded down $7.66 during midday trading on Tuesday, hitting $81.37. The company had a trading volume of 7,507,508 shares, compared to its average volume of 3,322,417. The company has a 50 day moving average of $73.85 and a 200 day moving average of $65.74. The stock has a market capitalization of $25.04 billion, a P/E ratio of 29.21, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 in the last three months. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

A number of large investors have recently made changes to their positions in ZM. Itau Unibanco Holding S.A. lifted its stake in Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after acquiring an additional 145 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Finally, Menard Financial Group LLC grew its position in Zoom Video Communications by 4.0% in the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock valued at $302,000 after acquiring an additional 166 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

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.