Piper Sandler Forecasts Strong Price Appreciation for Zoom Video Communications (NASDAQ:ZM) Stock

Zoom Video Communications (NASDAQ:ZM) had its target price raised by investment analysts at Piper Sandler from $77.00 to $85.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 7.21% from the company’s current price.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Zoom Video Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday. UBS Group decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC upgraded shares of Zoom Video Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 price objective on the stock in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday. Fifteen equities research 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 company’s stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $87.61.

Zoom Video Communications Stock Down 3.4%

ZM opened at $79.28 on Thursday. The stock’s fifty day moving average is $76.00 and its two-hundred day moving average is $79.76. The company has a market capitalization of $24.20 billion, a P/E ratio of 26.43, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.35 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Zoom Video Communications will post 2.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares in the company, valued at approximately $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 16,099 shares of the business’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 transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $143,583.02. This trade represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,515 shares of company stock valued at $12,132,994. Insiders own 11.51% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Zoom Video Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. FMR LLC boosted its position in shares of Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after acquiring an additional 282,645 shares during the period. Norges Bank bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $751,908,000. AQR Capital Management LLC raised its stake in shares of Zoom Video Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after purchasing an additional 373,509 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Zoom Video Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock valued at $473,732,000 after purchasing an additional 36,210 shares in the last quarter. Institutional investors and hedge funds 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.