Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price objective reduced by Wells Fargo & Company from $95.00 to $80.00 in a research report sent to investors on Tuesday morning, The Fly reports. They currently have an equal weight rating on the stock.

ZM has been the topic of several other research reports. BTIG Research downgraded shares of Zoom Video Communications from a buy rating to a neutral rating in a report on Tuesday, August 23rd. UBS Group reduced their price objective on shares of Zoom Video Communications to $92.00 in a research note on Tuesday, August 23rd. Moffett Nathanson began coverage on shares of Zoom Video Communications in a research note on Thursday, September 22nd. They issued a sell rating and a $86.00 price objective for the company. KeyCorp began coverage on shares of Zoom Video Communications in a research note on Monday, September 12th. They issued a sector weight rating for the company. Finally, Benchmark reduced their price objective on shares of Zoom Video Communications from $128.00 to $118.00 and set a buy rating for the company in a research note on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $122.48.

Zoom Video Communications Stock Down 3.9 %

Shares of NASDAQ:ZM opened at $77.15 on Tuesday. The company has a market cap of $22.96 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 3.13 and a beta of -0.29. The firm’s 50-day simple moving average is $78.58 and its 200-day simple moving average is $93.66. Zoom Video Communications has a fifty-two week low of $70.43 and a fifty-two week high of $235.97.

Zoom Video Communications (NASDAQ:ZMGet Rating) last issued its earnings results on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.23. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Zoom Video Communications had a net margin of 16.07% and a return on equity of 8.80%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, research analysts forecast that Zoom Video Communications will post 1.32 EPS for the current year.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction that occurred on Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the completion of the sale, the insider now directly owns 15,869 shares in the company, valued at $1,136,061.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently bought and sold shares of ZM. SeaCrest Wealth Management LLC purchased a new stake in Zoom Video Communications during the second quarter worth approximately $26,000. Ronald Blue Trust Inc. purchased a new stake in Zoom Video Communications during the second quarter worth approximately $27,000. Wagner Wealth Management LLC purchased a new stake in Zoom Video Communications during the second quarter worth approximately $32,000. Global Wealth Management Investment Advisory Inc. grew its stake in Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after buying an additional 114 shares during the period. Finally, TCI Wealth Advisors Inc. grew its stake in Zoom Video Communications by 57.9% during the third quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock worth $39,000 after buying an additional 194 shares during the period. 52.86% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Company Profile

(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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