Several other analysts have also recently issued reports on the company. Wells Fargo & Company cut their price objective on Zoom Video Communications from $95.00 to $80.00 and set an equal weight rating on the stock in a research note on Tuesday. KeyCorp initiated coverage on Zoom Video Communications in a research report on Monday, September 12th. They set a sector weight rating on the stock. Benchmark dropped their price target on Zoom Video Communications from $128.00 to $118.00 and set a buy rating on the stock in a research report on Tuesday, August 23rd. Morgan Stanley dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set an equal weight rating on the stock in a research report on Tuesday. Finally, MKM Partners dropped their price target on Zoom Video Communications from $125.00 to $100.00 in a research report on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $122.48.
Zoom Video Communications Stock Down 3.9 %
Shares of NASDAQ ZM opened at $77.15 on Tuesday. The stock’s 50 day moving average price is $78.58 and its two-hundred day moving average price is $93.66. Zoom Video Communications has a 52-week low of $70.43 and a 52-week high of $235.97. The stock has a market capitalization of $22.96 billion, a P/E ratio of 33.84, a PEG ratio of 3.13 and a beta of -0.29.
Insider Buying and Selling at Zoom Video Communications
In other news, insider Velchamy Sankarlingam sold 2,374 shares of the firm’s stock in a transaction on Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the completion of the sale, the insider now directly owns 15,869 shares of the company’s stock, valued at approximately $1,136,061.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.24% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Zoom Video Communications
Several large investors have recently modified their holdings of ZM. Ronald Blue Trust Inc. purchased a new stake in shares of Zoom Video Communications in the second quarter valued at $27,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Zoom Video Communications in the second quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Wagner Wealth Management LLC purchased a new stake in shares of Zoom Video Communications in the second quarter valued at $32,000. Finally, Neo Ivy Capital Management lifted its holdings in shares of Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. 52.86% of the stock is 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.
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