Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $65.00

Zoom Video Communications (NASDAQ:ZM) had its price objective decreased by Stifel Nicolaus from $70.00 to $65.00 in a report issued on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research analysts also recently issued reports on the company. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a hold rating and a $70.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a neutral rating for the company in a research note on Tuesday, February 27th. Wedbush reiterated a neutral rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Mizuho reduced their target price 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. Finally, Robert W. Baird lowered their target price on Zoom Video Communications from $90.00 to $84.00 and set an outperform rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of Hold and a consensus target price of $76.18.

Zoom Video Communications Stock Up 0.9 %

ZM stock opened at $63.01 on Tuesday. Zoom Video Communications has a 52-week low of $58.87 and a 52-week high of $75.90. The firm has a market cap of $19.38 billion, a P/E ratio of 23.51, a PEG ratio of 11.15 and a beta of -0.05. The company’s 50-day simple moving average is $63.06 and its 200-day simple moving average is $65.88.

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

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. Insiders have sold a total of 101,170 shares of company stock worth $6,356,101 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Principal Securities Inc. bought a new stake in Zoom Video Communications in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC boosted its stake in shares of 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 during the period. AM Squared Ltd bought a new position in Zoom Video Communications during the 3rd quarter valued at about $28,000. Frazier Financial Advisors LLC bought a new stake in Zoom Video Communications in the fourth quarter worth about $32,000. Finally, Allworth Financial LP boosted its position 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 valued at $39,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.