Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $77.00

Zoom Video Communications (NASDAQ:ZM) had its target price reduced by Robert W. Baird from $84.00 to $77.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 27.84% from the company’s previous close.

A number of other equities analysts have also weighed in on ZM. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, May 21st. Rosenblatt Securities boosted their price target on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, May 21st. Finally, UBS Group upgraded Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $74.84.

Zoom Video Communications Stock Up 1.9 %

Shares of NASDAQ:ZM opened at $60.23 on Thursday. The company’s 50-day moving average price is $58.08 and its 200 day moving average price is $61.77. The company has a market cap of $18.63 billion, a PE ratio of 22.47, a P/E/G ratio of 8.91 and a beta of -0.05. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. Zoom Video Communications’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. As a group, equities analysts anticipate that Zoom Video Communications will post 2.43 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $61.58, for a total value of $308,331.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $61.58, for a total value of $308,331.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction on Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction of $135,810.40. Following the completion of the transaction, the chief executive officer now owns 90,354 shares in the company, valued at approximately $5,070,666.48. The disclosure for this sale can be found here. Insiders have sold a total of 118,629 shares of company stock worth $6,887,868 over the last 90 days. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently made changes to their positions in ZM. KBC Group NV increased its position in Zoom Video Communications by 134.3% in the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock worth $40,382,000 after buying an additional 321,921 shares during the period. Vanguard Group Inc. boosted its position in shares of Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the period. Ossiam grew its stake in shares of Zoom Video Communications by 1,917.4% in the fourth quarter. Ossiam now owns 231,474 shares of the company’s stock worth $16,645,000 after acquiring an additional 220,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Zoom Video Communications by 9.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after acquiring an additional 38,924 shares during the period. Finally, Contrarius Investment Management Ltd raised its stake in Zoom Video Communications by 31.2% during the 4th quarter. Contrarius Investment Management Ltd now owns 1,164,674 shares of the company’s stock valued at $83,752,000 after purchasing an additional 277,257 shares during the last quarter. Institutional investors and hedge funds 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.