Mizuho Forecasts Strong Price Appreciation for Zoom Video Communications (NASDAQ:ZM) Stock

Zoom Video Communications (NASDAQ:ZM) had its price target boosted by Mizuho from $90.00 to $105.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

ZM has been the subject of several other research reports. The Goldman Sachs Group increased their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird lowered 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. 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 company. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Stock Performance

ZM opened at $85.36 on Tuesday. The firm has a market cap of $26.27 billion, a P/E ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05. The firm has a 50-day moving average of $74.92 and a 200 day moving average of $66.16. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the sale, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $113,610.56. This trade represents a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,108 shares of company stock worth $26,796,191. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP grew its holdings in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at $763,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares in the last quarter. National Pension Service grew its holdings in shares of Zoom Video Communications by 30.1% in the third quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after purchasing an additional 151,728 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of Zoom Video Communications in the third quarter valued at $62,038,000. 66.54% of the stock is owned by hedge funds and other 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.