The Goldman Sachs Group Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price objective increased by The Goldman Sachs Group from $72.00 to $86.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 1.90% from the company’s previous close.

A number of other brokerages also recently issued reports on ZM. Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Bank of America dropped their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.16.

Zoom Video Communications Stock Performance

ZM opened at $84.40 on Tuesday. The business’s 50 day moving average price is $73.85 and its 200 day moving average price is $65.74. The stock has a market capitalization of $25.98 billion, a PE ratio of 30.25, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

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 transaction of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. grew its position in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the period. MML Investors Services LLC boosted its stake in Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after buying an additional 145 shares during the period. MetLife Investment Management LLC increased its stake 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 valued at $322,000 after acquiring an additional 154 shares during the last quarter. 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 currently 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.