Zoom Video Communications (NASDAQ:ZM) Price Target Lowered to $85.00 at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM) had its price objective cut by Stifel Nicolaus from $90.00 to $85.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Finally, Barclays upped their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $89.81.

Zoom Video Communications Stock Down 8.5 %

Shares of NASDAQ:ZM opened at $74.22 on Tuesday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a 50-day simple moving average of $82.92 and a 200 day simple moving average of $76.67. The company has a market cap of $22.75 billion and a PE ratio of 24.74.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the sale, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 382,242 shares of company stock valued at $31,230,938. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds have recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $30,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $32,000. 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.