UBS Group Lowers Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its target price dropped by investment analysts at UBS Group from $90.00 to $85.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 14.63% from the company’s previous close.

ZM has been the topic of several other reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday. Barclays lifted their target price on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein boosted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Sixteen 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.57.

Zoom Video Communications Trading Down 0.1 %

ZM stock opened at $74.15 on Tuesday. The business’s 50-day moving average price is $82.76 and its two-hundred day moving average price is $76.66. The firm has a market cap of $22.73 billion and a PE ratio of 24.72. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,333 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. The trade was a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 over the last 90 days. 10.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently made changes to their positions in the stock. Global X Japan Co. Ltd. lifted its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in 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. Avior Wealth Management LLC lifted its position in 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. Raiffeisen Bank International AG bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $30,000. Finally, Colonial Trust Co SC bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $32,000. 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.