Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $87.00

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Zoom Video Communications (NASDAQ:ZM) had its price target trimmed by Bank of America from $103.00 to $87.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on ZM. Stifel Nicolaus decreased their price target on Zoom Video Communications from $90.00 to $75.00 and set a hold rating for the company in a research note on Friday. They noted that the move was a valuation call. Rosenblatt Securities set a $75.00 price target on Zoom Video Communications and gave the company a hold rating in a report on Friday, October 18th. Guggenheim started coverage on Zoom Video Communications in a research report on Friday, November 22nd. They set a buy rating and a $90.00 price objective on the stock. FBN Securities started coverage on Zoom Video Communications in a report on Tuesday, September 10th. They issued a sector perform rating and a $85.00 price objective for the company. Finally, Stephens reiterated an overweight rating and issued a $115.00 price objective on shares of Zoom Video Communications in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Zoom Video Communications currently has an average rating of Hold and an average price target of $83.30.

Shares of ZM stock opened at $62.74 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.00 and a quick ratio of 4.00. Zoom Video Communications has a one year low of $59.94 and a one year high of $107.34. The company’s 50-day moving average is $68.99 and its 200 day moving average is $83.30.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.06. The firm had revenue of $166.60 million for the quarter, compared to analysts’ expectations of $156.23 million. The company’s revenue for the quarter was up 84.9% compared to the same quarter last year. Analysts predict that Zoom Video Communications will post 0.07 earnings per share for the current year.

In other Zoom Video Communications news, CMO Janine Pelosi sold 13,046 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $74.18, for a total value of $967,752.28. Following the transaction, the chief marketing officer now directly owns 306,594 shares of the company’s stock, valued at $22,743,142.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Roy Benhorin sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $70.05, for a total value of $7,005,000.00. Over the last 90 days, insiders sold 244,890 shares of company stock worth $16,881,574.

Several large investors have recently modified their holdings of ZM. SALESFORCE.COM Inc. bought a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $246,639,000. Vanguard Group Inc. purchased a new position in shares of Zoom Video Communications in the second quarter worth approximately $151,471,000. Coatue Management LLC bought a new stake in Zoom Video Communications during the second quarter valued at approximately $109,677,000. Whale Rock Capital Management LLC bought a new stake in Zoom Video Communications during the second quarter valued at approximately $108,258,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in Zoom Video Communications during the second quarter valued at approximately $97,188,000. Hedge funds and other institutional investors own 10.39% of the company’s stock.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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