Barclays Trims Zoom Video Communications (NASDAQ:ZM) Target Price to $70.00

Zoom Video Communications (NASDAQ:ZM) had its price objective reduced by investment analysts at Barclays from $80.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 6.06% from the stock’s current price.

ZM has been the subject of several other research reports. Stifel Nicolaus reduced their price target on shares of Zoom Video Communications from $75.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, October 4th. JPMorgan Chase & Co. lowered their target price on Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, August 22nd. Sanford C. Bernstein reduced their price objective on Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating for the company in a research report on Tuesday, August 22nd. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Zoom Video Communications in a research report on Wednesday, November 15th. Finally, HSBC began coverage on Zoom Video Communications in a research report on Friday, September 15th. They set a “buy” rating and a $83.00 price target for the company. Seventeen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.09.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $66.00 on Tuesday. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $85.13. The stock’s fifty day moving average is $64.83 and its 200-day moving average is $67.15. The stock has a market capitalization of $19.86 billion, a PE ratio of 150.00, a PEG ratio of 1.07 and a beta of -0.16.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, November 20th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.21. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, analysts forecast that Zoom Video Communications will post 1.77 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,067 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $73.49, for a total value of $151,903.83. Following the completion of the transaction, the director now owns 167,961 shares of the company’s stock, valued at approximately $12,343,453.89. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Santiago Subotovsky sold 2,067 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $73.49, for a total transaction of $151,903.83. Following the sale, the director now owns 167,961 shares in the company, valued at approximately $12,343,453.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 11,208 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $59.87, for a total transaction of $671,022.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,375 shares of company stock valued at $10,417,755. 11.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZM. AM Squared Ltd bought a new stake in shares of Zoom Video Communications during the 3rd quarter valued at about $28,000. Money Concepts Capital Corp boosted its holdings in shares of Zoom Video Communications by 821.2% during the 4th quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock worth $32,000 after buying an additional 427 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in shares of Zoom Video Communications by 63.3% during the 1st 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. Allworth Financial LP increased its stake in shares of Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after acquiring an additional 282 shares in the last quarter. Finally, Neo Ivy Capital Management lifted its position in shares of Zoom Video Communications by 56.8% during the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Institutional investors own 54.85% of the company’s stock.

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.