Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $100.00 by Analysts at Mizuho

Zoom Video Communications (NASDAQ:ZMGet Rating) had its target price trimmed by Mizuho from $120.00 to $100.00 in a research note released on Tuesday morning, The Fly reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently weighed in on ZM. Credit Suisse Group initiated coverage on shares of Zoom Video Communications in a research report on Friday, September 23rd. They set a neutral rating and a $83.00 price target for the company. Royal Bank of Canada dropped their price objective on shares of Zoom Video Communications from $150.00 to $130.00 in a research note on Tuesday, August 23rd. MKM Partners dropped their price objective on shares of Zoom Video Communications from $125.00 to $100.00 in a research note on Wednesday, November 9th. KeyCorp initiated coverage on shares of Zoom Video Communications in a research note on Monday, September 12th. They set a sector weight rating for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $90.00 to $80.00 in a research note on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of Hold and a consensus target price of $122.48.

Zoom Video Communications Stock Down 3.9 %

ZM opened at $77.15 on Tuesday. Zoom Video Communications has a twelve month low of $70.43 and a twelve month high of $235.97. The company has a 50-day moving average price of $78.58 and a 200 day moving average price of $93.66. The company has a market cap of $22.96 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.13 and a beta of -0.29.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings results on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.23. Zoom Video Communications had a net margin of 16.07% and a return on equity of 8.80%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Zoom Video Communications will post 1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,374 shares of the stock in a transaction that occurred on Saturday, October 8th. The shares were sold at an average price of $71.59, for a total transaction of $169,954.66. Following the sale, the insider now directly owns 15,869 shares in the company, valued at approximately $1,136,061.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 27.6% in the 3rd quarter. IHT Wealth Management LLC now owns 6,722 shares of the company’s stock valued at $495,000 after purchasing an additional 1,456 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Zoom Video Communications by 56.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,181 shares of the company’s stock valued at $234,000 after purchasing an additional 1,147 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Zoom Video Communications in the 3rd quarter valued at $5,116,000. California State Teachers Retirement System raised its holdings in shares of Zoom Video Communications by 1.3% in the 3rd quarter. California State Teachers Retirement System now owns 383,806 shares of the company’s stock valued at $28,244,000 after purchasing an additional 5,053 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of Zoom Video Communications by 3.6% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 15,644 shares of the company’s stock valued at $1,151,000 after purchasing an additional 545 shares in the last quarter. 52.86% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Video Communications

(Get Rating)

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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