Stifel Nicolaus Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $65.00

Zoom Video Communications (NASDAQ:ZM) had its price target reduced by Stifel Nicolaus from $70.00 to $65.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other brokerages have also recently weighed in on ZM. Rosenblatt Securities increased their price target on Zoom Video Communications from $75.00 to $78.00 and gave the stock a buy rating in a research report on Tuesday. Evercore ISI dropped their target price on Zoom Video Communications from $72.00 to $70.00 and set an in-line rating on the stock in a research report on Tuesday. Sanford C. Bernstein lowered their price target on shares of Zoom Video Communications from $82.00 to $78.00 and set a market perform rating for the company in a research report on Tuesday. Mizuho cut their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. Finally, Needham & Company LLC restated a hold rating on shares of Zoom Video Communications in a research report on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of Hold and an average price target of $76.18.

Zoom Video Communications Price Performance

Shares of ZM opened at $62.42 on Tuesday. The stock has a market capitalization of $19.20 billion, a PE ratio of 23.29 and a beta of -0.05. The business’s fifty day moving average price is $63.12 and its 200 day moving average price is $65.87. Zoom Video Communications has a 12-month low of $58.87 and a 12-month high of $75.90.

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

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now directly owns 71,956 shares of the company’s stock, valued at $5,036,920. The disclosure for this sale can be found here. In the last three months, insiders sold 101,170 shares of company stock valued at $6,356,101. 10.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of large investors have recently made changes to their positions in the company. Evoke Wealth LLC boosted its stake in Zoom Video Communications by 3.5% in the 4th quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after purchasing an additional 172 shares during the period. Xponance Inc. boosted its position in shares of Zoom Video Communications by 2.0% in the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock worth $667,000 after buying an additional 179 shares during the period. Cantor Fitzgerald L. P. grew its holdings in shares of Zoom Video Communications by 2.7% during the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after buying an additional 197 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Zoom Video Communications by 3.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,528 shares of the company’s stock valued at $457,000 after buying an additional 200 shares during the period. Finally, Amalgamated Bank lifted its stake in Zoom Video Communications by 0.8% in the 3rd quarter. Amalgamated Bank now owns 24,850 shares of the company’s stock worth $1,738,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds own 66.54% 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.