Zoom Video Communications (NASDAQ:ZM) Price Target Raised to $90.00 at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM - Free Report) had its price objective boosted by Stifel Nicolaus from $70.00 to $90.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other brokerages also recently issued reports on ZM. Scotiabank raised Zoom Video Communications to a "hold" rating in a report on Tuesday, November 19th. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, August 22nd. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $70.00 to $115.00 in a research note on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Wedbush initiated coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an "outperform" rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average target price of $85.20.

Zoom Video Communications Trading Down 6.3 %

NASDAQ:ZM traded down $5.58 during mid-day trading on Tuesday, hitting $83.45. The stock had a trading volume of 12,813,316 shares, compared to its average volume of 3,338,954. The company has a 50 day simple moving average of $73.85 and a 200-day simple moving average of $65.74. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 7.33 and a beta of -0.05. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the business's stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Aparna Bawa sold 831 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 367,108 shares of company stock worth $26,796,191. Corporate insiders own 10.78% of the company's stock.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently added to or reduced their stakes in ZM. Tri Ri Asset Management Corp bought a new stake in Zoom Video Communications in the 3rd quarter valued at $2,653,000. Sanctuary Advisors LLC raised its position in shares of Zoom Video Communications by 22.1% during the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company's stock valued at $1,047,000 after buying an additional 2,714 shares during the last quarter. Hohimer Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 0.5% in the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company's stock valued at $3,455,000 after buying an additional 260 shares during the period. Toronto Dominion Bank grew its position in Zoom Video Communications by 32.1% during the third quarter. Toronto Dominion Bank now owns 31,965 shares of the company's stock worth $2,229,000 after buying an additional 7,768 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after buying an additional 184,518 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

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.