Bank of America Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price target increased by Bank of America from $75.00 to $90.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

ZM has been the topic of a number of other research reports. Morgan Stanley lifted 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. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $70.00 to $115.00 in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday. Wells Fargo & Company boosted their price target on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Stock Performance

ZM stock opened at $82.69 on Tuesday. The firm has a market cap of $25.45 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 5.69 and a beta of -0.05. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a 50-day simple moving average of $75.22 and a 200-day simple moving average of $66.30.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 over the last ninety days. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Zoom Video Communications during the second quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in Zoom Video Communications in the 3rd quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the 2nd quarter valued at approximately $41,000. Finally, Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares in the last quarter. 66.54% of the stock is currently 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.