Zoom Video Communications (NASDAQ:ZM) Price Target Lowered to $85.00 at UBS Group

Zoom Video Communications (NASDAQ:ZM) had its price objective reduced by UBS Group from $90.00 to $85.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

ZM has been the topic of several other reports. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday. Morgan Stanley lifted their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Finally, Barclays boosted their price target on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $89.81.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $74.22 on Tuesday. The stock’s 50 day simple moving average is $82.92 and its two-hundred day simple moving average is $76.67. The stock has a market cap of $22.75 billion and a price-to-earnings ratio of 24.74. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. increased its stake in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth $30,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth $32,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.