Stifel Nicolaus Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price target upped by Stifel Nicolaus from $70.00 to $90.00 in a report issued on Tuesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research analysts have also weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $70.00 to $115.00 in a report on Tuesday. Bank of America cut their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Robert W. Baird cut their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $85.36 on Tuesday. The stock has a market capitalization of $26.27 billion, a P/E ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The firm’s 50-day moving average is $74.92 and its two-hundred day moving average is $66.16.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock in a transaction on 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 transaction, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently added to or reduced their stakes in ZM. Pacer Advisors Inc. boosted its holdings in Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC boosted its holdings in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the period. FMR LLC boosted its holdings in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Acadian Asset Management LLC boosted its holdings in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications in the third quarter worth $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.