Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $84.00

Zoom Video Communications (NASDAQ:ZM) had its price target decreased by Robert W. Baird from $90.00 to $84.00 in a research report released on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts have also commented on the stock. Mizuho dropped their price target on shares of Zoom Video Communications from $100.00 to $90.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They set a hold rating and a $70.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Zoom Video Communications from $83.00 to $80.00 and set a neutral rating on the stock in a report on Tuesday, February 27th. Rosenblatt Securities upgraded shares of Zoom Video Communications from a neutral rating to a buy rating and set a $75.00 price target for the company in a research note on Thursday, April 18th. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of Hold and an average price target of $76.18.

Zoom Video Communications Stock Up 0.9 %

NASDAQ:ZM opened at $63.01 on Tuesday. The stock has a fifty day simple moving average of $63.06 and a 200 day simple moving average of $65.88. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 11.15 and a beta of -0.05. Zoom Video Communications has a 1-year low of $58.87 and a 1-year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. Equities analysts predict that Zoom Video Communications will post 2.15 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,734.80. The disclosure for this sale can be found here. Insiders sold a total of 101,170 shares of company stock valued at $6,356,101 over the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Principal Securities Inc. bought a new position in shares of Zoom Video Communications during the fourth quarter worth approximately $25,000. Quadrant Capital Group LLC increased its position in Zoom Video Communications by 269.7% during 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 in the last quarter. AM Squared Ltd acquired a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at approximately $32,000. Finally, Allworth Financial LP lifted its holdings in shares of Zoom Video Communications by 101.4% during the third quarter. Allworth Financial LP now owns 560 shares of the company’s stock worth $39,000 after purchasing an additional 282 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

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.