Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $84.00

Zoom Video Communications (NASDAQ:ZM) had its price objective reduced by analysts at Robert W. Baird from $90.00 to $84.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 30.48% from the company’s current price.

Several other analysts also recently issued reports on ZM. JPMorgan Chase & Co. lowered their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Mizuho lowered their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, April 18th. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. Finally, Evercore ISI decreased their price objective on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.67.

Zoom Video Communications Stock Up 0.8 %

ZM stock opened at $64.38 on Tuesday. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 24.02 and a beta of -0.05. The business has a fifty day simple moving average of $63.21 and a 200-day simple moving average of $65.90. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts expect that Zoom Video Communications will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $69.84, for a total transaction of $169,012.80. Following the transaction, the chief executive officer now owns 85,160 shares of the company’s stock, valued at $5,947,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $69.84, for a total value of $169,012.80. Following the transaction, the chief executive officer now owns 85,160 shares of the company’s stock, valued at $5,947,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,067 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $69.83, for a total transaction of $144,338.61. Following the completion of the transaction, the director now directly owns 155,559 shares in the company, valued at approximately $10,862,684.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,170 shares of company stock valued at $6,356,101. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently bought and sold shares of ZM. Norges Bank acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $164,224,000. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 639.9% in the third quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after purchasing an additional 1,408,908 shares during the period. Vanguard Group Inc. increased its stake in shares of Zoom Video Communications by 4.6% in the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the period. ARK Investment Management LLC increased its stake in shares of Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after purchasing an additional 781,663 shares during the period. Finally, Retirement Systems of Alabama acquired a new stake in shares of Zoom Video Communications in the first quarter valued at approximately $42,289,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.