Citigroup Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its price objective lowered by Citigroup from $86.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential downside of 0.20% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. UBS Group raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Morgan Stanley raised their target price on shares of 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. Finally, Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.48.

Zoom Video Communications Stock Down 0.0 %

NASDAQ:ZM opened at $85.17 on Tuesday. The company has a market cap of $26.10 billion and a P/E ratio of 28.39. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm’s 50 day moving average is $83.31 and its two-hundred day moving average is $75.78.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the sale, the director now owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock valued at $31,230,938 in the last ninety days. Company 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 made changes to their positions in the stock. Toronto Dominion Bank raised its position in shares of Zoom Video Communications by 4.9% during the 4th quarter. Toronto Dominion Bank now owns 33,541 shares of the company’s stock worth $2,737,000 after buying an additional 1,576 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Zoom Video Communications during the 4th quarter worth about $148,000. JT Stratford LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter worth about $934,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter worth about $275,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Zoom Video Communications by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company’s stock worth $340,642,000 after purchasing an additional 87,775 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

About Zoom Video Communications

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.