Scotiabank Issues Positive Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price objective boosted by Scotiabank from $75.00 to $85.00 in a research note published on Friday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities restated a “buy” rating and issued a $90.00 price target on shares of Zoom Video Communications in a research report on Thursday, May 8th. Mizuho decreased their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Zoom Video Communications Price Performance

ZM stock opened at $84.62 on Friday. The company has a 50 day simple moving average of $75.22 and a 200 day simple moving average of $79.61. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Activity

In related news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the transaction, the director now directly owns 157,824 shares in the company, valued at approximately $12,439,687.68. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZM. Wedmont Private Capital lifted its stake in shares of Zoom Video Communications by 12.5% in the fourth quarter. Wedmont Private Capital now owns 3,350 shares of the company’s stock valued at $266,000 after buying an additional 371 shares in the last quarter. Inspirion Wealth Advisors LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at $201,000. Empirical Asset Management LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at $222,000. Avanza Fonder AB bought a new position in shares of Zoom Video Communications in the fourth quarter valued at $1,563,000. Finally, Merit Financial Group LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at $1,072,000. 66.54% of the stock is owned by institutional investors.

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.