Zoom Video Communications (NASDAQ:ZM) Price Target Lowered to $85.00 at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM) had its price target cut by research analysts at Stifel Nicolaus from $90.00 to $85.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 4.81% from the company’s previous close.

ZM has been the topic of a number of other research reports. Benchmark raised their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Mizuho boosted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald started coverage on Zoom Video Communications in a research report on Friday, January 17th. They issued a “neutral” rating and a $87.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.24.

Zoom Video Communications Stock Down 1.7 %

Zoom Video Communications stock opened at $81.10 on Tuesday. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market cap of $24.86 billion and a P/E ratio of 27.03. The business has a 50-day simple moving average of $83.13 and a two-hundred day simple moving average of $76.55.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. Research analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 in the last ninety days. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of ZM. FMR LLC increased its holdings in Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth $751,908,000. AQR Capital Management LLC grew its position in shares of Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after buying an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after buying an additional 1,247,717 shares during the period. Finally, State Street Corp raised its holdings in shares of Zoom Video Communications by 2.3% in the third 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. 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.