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

Zoom Video Communications (NASDAQ:ZMGet Free Report) had its price target raised by equities researchers at UBS Group from $75.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 9.70% from the company’s previous close.

Several other equities analysts also recently issued reports on ZM. Benchmark boosted their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Morgan Stanley raised their target price on 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. Robert W. Baird dropped their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Piper Sandler upped their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $82.55.

Read Our Latest Stock Report on Zoom Video Communications

Zoom Video Communications Stock Down 7.9 %

ZM stock traded down $6.99 during mid-day trading on Tuesday, reaching $82.04. The company had a trading volume of 5,698,814 shares, compared to its average volume of 3,312,091. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The stock has a market capitalization of $25.25 billion, a P/E ratio of 29.41, a P/E/G ratio of 7.33 and a beta of -0.05. The stock’s 50-day simple moving average is $73.85 and its two-hundred day simple moving average is $65.74.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock valued at $26,796,191 over the last ninety days. Corporate 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 stock. FMR LLC lifted its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares during the period. State Street Corp increased its position in Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 valued at $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. raised its position in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Zoom Video Communications by 60.9% in the 2nd 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 last quarter. 66.54% of the stock is owned by institutional investors.

About Zoom Video Communications

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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