Zoom Video Communications (NASDAQ:ZM) Price Target Lowered to $80.00 at Barclays

Zoom Video Communications (NASDAQ:ZM) had its target price dropped by research analysts at Barclays from $85.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 9.77% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday. UBS Group decreased their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday. Benchmark restated a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.05.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $72.88 on Wednesday. The stock has a market capitalization of $22.34 billion and a P/E ratio of 24.29. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The stock’s 50-day simple moving average is $82.54 and its 200 day simple moving average is $76.63.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after buying an additional 282,645 shares during the period. Norges Bank bought a new position in shares of Zoom Video Communications in the 4th quarter worth about $751,908,000. AQR Capital Management LLC lifted its position in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after acquiring an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the period. Finally, State Street Corp grew its holdings in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the period. 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.