Stifel Nicolaus Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $65.00

Zoom Video Communications (NASDAQ:ZM) had its price target reduced by Stifel Nicolaus from $70.00 to $65.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

ZM has been the subject of several other research reports. Wedbush reaffirmed a neutral rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Evercore ISI cut their target price on Zoom Video Communications from $72.00 to $70.00 and set an in-line rating for the company in a research report on Tuesday. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a buy rating on the stock in a report on Tuesday, February 27th. Rosenblatt Securities increased their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a buy rating in a report on Tuesday. Finally, Sanford C. Bernstein lowered their target price on shares of Zoom Video Communications from $82.00 to $78.00 and set a market perform rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of Hold and a consensus price target of $76.18.

Zoom Video Communications Stock Down 3.0 %

NASDAQ ZM opened at $62.42 on Tuesday. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $75.90. The company has a market capitalization of $19.20 billion, a P/E ratio of 23.29 and a beta of -0.05. The stock’s 50-day moving average price is $63.12 and its 200-day moving average price is $65.87.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.84%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Research analysts anticipate that Zoom Video Communications will post 2.15 EPS for the current year.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now owns 71,956 shares of the company’s stock, valued at $5,036,920. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,170 shares of company stock valued at $6,356,101. 10.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZM. Principal Securities Inc. purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth $25,000. Quadrant Capital Group LLC lifted its position in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the period. AM Squared Ltd bought a new position in shares of Zoom Video Communications during the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC purchased a new position in Zoom Video Communications during the fourth quarter valued at approximately $32,000. Finally, Allworth Financial LP raised its stake in Zoom Video Communications by 101.4% in the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after buying an additional 282 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.