Robert W. Baird reaffirmed their in-line rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report issued on Friday, The Fly reports. Robert W. Baird currently has a $85.00 price target on the stock, down from their previous price target of $100.00. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada reiterated a sector perform rating and issued a $75.00 price target on shares of Zoom Video Communications in a report on Friday. They noted that the move was a valuation call. Citigroup dropped their price objective on Zoom Video Communications from $90.00 to $75.00 and set a neutral rating for the company in a report on Friday, October 18th. Bank of America upped their price objective on Zoom Video Communications from $99.00 to $103.00 and gave the company a buy rating in a research report on Friday, September 6th. Morgan Stanley set a $75.00 price objective on Zoom Video Communications and gave the company a hold rating in a research report on Friday, August 30th. Finally, ValuEngine lowered Zoom Video Communications from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Zoom Video Communications has a consensus rating of Hold and a consensus price target of $83.30.
Shares of Zoom Video Communications stock opened at $62.74 on Friday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $68.99 and a 200-day moving average price of $83.30. Zoom Video Communications has a one year low of $59.94 and a one year high of $107.34.
In related news, CAO Roy Benhorin sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $70.05, for a total transaction of $7,005,000.00. Also, CMO Janine Pelosi sold 6,196 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $65.77, for a total value of $407,510.92. Insiders sold a total of 244,890 shares of company stock worth $16,881,574 over the last quarter.
A number of hedge funds and other institutional investors have recently modified their holdings of ZM. Commonwealth Equity Services LLC purchased a new position in Zoom Video Communications in the 2nd quarter worth $986,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Zoom Video Communications during the 2nd quarter valued at about $657,000. SG Americas Securities LLC purchased a new position in shares of Zoom Video Communications during the 2nd quarter valued at about $364,000. BNP Paribas Arbitrage SA acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at about $5,579,000. Finally, Dfpg Investments Inc. acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at about $252,000. 10.39% of the stock is owned by institutional investors and hedge funds.
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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