Zoom Video Communications (NASDAQ:ZM) Given New $90.00 Price Target at UBS Group

Zoom Video Communications (NASDAQ:ZM) had its target price lifted by UBS Group from $75.00 to $90.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

ZM has been the subject of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Morgan Stanley lifted their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Benchmark lifted their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given 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 $85.20.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $83.41 on Tuesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market capitalization of $25.67 billion, a P/E ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05. The business has a 50 day moving average price of $74.16 and a 200 day moving average price of $65.89.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. lifted its holdings in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC lifted its holdings in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings 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 period. MetLife Investment Management LLC lifted its holdings in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares during the period. Finally, Menard Financial Group LLC lifted its holdings in shares of Zoom Video Communications by 4.0% during the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after acquiring an additional 166 shares during the period. 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.