Zoom Video Communications (NASDAQ:ZM) PT Lowered to $80.00

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price objective reduced by Moffett Nathanson from $85.00 to $80.00 in a research report sent to investors on Tuesday morning, The Fly reports. They currently have an underperform rating on the stock.

Several other analysts have also recently commented on the stock. Citigroup reduced their price objective on shares of Zoom Video Communications from $76.00 to $72.00 and set a sell rating for the company in a research note on Wednesday, November 16th. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set an equal weight rating for the company in a research note on Tuesday. 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. BTIG Research cut shares of Zoom Video Communications from a buy rating to a neutral rating in a research note on Tuesday, August 23rd. Finally, Credit Suisse Group assumed coverage on shares of Zoom Video Communications in a research note on Friday, September 23rd. They issued a neutral rating and a $83.00 price objective for the company. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications currently 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 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

Institutional investors have recently bought and sold shares of the stock. Ronald Blue Trust Inc. purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $27,000. SeaCrest Wealth Management LLC purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $26,000. Global Wealth Management Investment Advisory Inc. grew its holdings in 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 during the period. Wagner Wealth Management LLC purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $32,000. Finally, Neo Ivy Capital Management grew its holdings in 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 during the period. 52.86% of the stock is currently owned by hedge funds and other institutional investors.

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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