Zoom Video Communications (NASDAQ:ZM) Given New $85.00 Price Target at Morgan Stanley

Zoom Video Communications (NASDAQ:ZM) had its target price upped by research analysts at Morgan Stanley from $79.00 to $85.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 7.24% from the stock’s previous close.

A number of other brokerages have also recently weighed in on ZM. UBS Group decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Scotiabank lifted their price target on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Friday, May 16th. Barclays lowered their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday. Fourteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $88.18.

Zoom Video Communications Trading Down 3.7%

Shares of NASDAQ ZM opened at $79.26 on Thursday. The stock has a fifty day simple moving average of $75.78 and a two-hundred day simple moving average of $79.70. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market cap of $24.19 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.43). The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 earnings per share. Analysts forecast that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock worth $12,132,994 in the last ninety days. Insiders own 11.51% of the company’s stock.

Institutional Trading of Zoom Video Communications

Several large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its stake in shares of Zoom Video Communications by 464.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 16,374 shares of the company’s stock valued at $1,336,000 after acquiring an additional 13,471 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Zoom Video Communications by 6.0% during the 4th quarter. Atomi Financial Group Inc. now owns 6,677 shares of the company’s stock valued at $545,000 after buying an additional 376 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $320,000. Dakota Wealth Management bought a new stake in shares of Zoom Video Communications in the fourth quarter worth $849,000. Finally, Avior Wealth Management LLC increased its stake in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. 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.