Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $86.00 at The Goldman Sachs Group

Zoom Video Communications (NASDAQ:ZM) had its price target hoisted by The Goldman Sachs Group from $72.00 to $86.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. Wedbush assumed coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Finally, Morgan Stanley upped their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Up 2.3 %

NASDAQ:ZM opened at $85.36 on Tuesday. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 7.12 and a beta of -0.05. The company’s 50-day moving average is $74.92 and its two-hundred day moving average is $66.16. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 831 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock valued at $26,796,191 over the last 90 days. 10.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in ZM. Pacer Advisors Inc. boosted its stake in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the last quarter. FMR LLC boosted its stake in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of Zoom Video Communications during the 3rd quarter valued at approximately $62,038,000. 66.54% of the stock is currently owned by hedge funds and other 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.