Zoom Video Communications (NASDAQ:ZM) PT Lowered to $75.00 at Evercore ISI

Zoom Video Communications (NASDAQ:ZM – Get Rating) had its price target cut by Evercore ISI from $85.00 to $75.00 in a research note issued to investors on Tuesday, The Fly reports.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler raised their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a neutral rating in a research note on Tuesday, February 28th. Benchmark reaffirmed a buy rating and issued a $102.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 28th. Citigroup lifted their price target on Zoom Video Communications from $67.00 to $68.00 and gave the company a sell rating in a research note on Wednesday, March 1st. Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications to $75.00 in a research note on Friday, March 3rd. Finally, MKM Partners cut Zoom Video Communications from a buy rating to a neutral rating and dropped their price objective for the stock from $100.00 to $75.00 in a research note on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of Hold and an average price target of $88.39.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $65.65 on Tuesday. Zoom Video Communications has a one year low of $60.45 and a one year high of $124.05. The firm has a market cap of $19.29 billion, a PE ratio of 205.16, a price-to-earnings-growth ratio of 3.74 and a beta of -0.22. The stock’s 50 day simple moving average is $67.45 and its 200 day simple moving average is $71.17.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings results on Monday, May 22nd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. Zoom Video Communications had a net margin of 2.36% and a return on equity of 2.70%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.47 earnings per share. Zoom Video Communications’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Zoom Video Communications will post 0.74 earnings per share for the current year.

Insider Activity

In other news, CAO Shane Crehan sold 11,049 shares of the firm’s stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $68.13, for a total value of $752,768.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zoom Video Communications news, CAO Shane Crehan sold 11,049 shares of Zoom Video Communications stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $68.13, for a total transaction of $752,768.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $70.97, for a total value of $228,807.28. The disclosure for this sale can be found here. Insiders have sold 103,893 shares of company stock valued at $7,116,654 in the last ninety days. 11.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. WealthPlan Investment Management LLC bought a new stake in shares of Zoom Video Communications in the third quarter valued at $306,000. Daiwa Securities Group Inc. lifted its holdings in shares of Zoom Video Communications by 2.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 33,166 shares of the company’s stock worth $2,246,000 after buying an additional 793 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Zoom Video Communications during the third quarter worth about $940,000. D.A. Davidson & CO. grew its holdings in shares of Zoom Video Communications by 10.1% during the third quarter. D.A. Davidson & CO. now owns 11,951 shares of the company’s stock worth $879,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Zoom Video Communications by 12.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 365,957 shares of the company’s stock valued at $26,931,000 after buying an additional 41,405 shares in the last quarter. Institutional investors own 52.96% of the company’s stock.

Zoom Video Communications Company Profile

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.