Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $80.00 by Analysts at Barclays

Zoom Video Communications (NASDAQ:ZM) had its target price decreased by stock analysts at Barclays from $85.00 to $80.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 7.79% from the company’s previous close.

A number of other research analysts have also recently commented on ZM. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report 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. Sanford C. Bernstein increased their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $89.57.

Zoom Video Communications Trading Down 8.5 %

Shares of Zoom Video Communications stock opened at $74.22 on Wednesday. The firm has a market capitalization of $22.75 billion and a PE ratio of 24.74. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The business’s 50-day moving average price is $82.92 and its 200-day moving average price is $76.67.

Insider Transactions at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently modified their holdings of ZM. Global X Japan Co. Ltd. raised its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Video Communications in the fourth quarter worth about $30,000. Finally, Colonial Trust Co SC bought a new position in Zoom Video Communications during the fourth quarter valued at approximately $32,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.