Zoom Video Communications (NASDAQ:ZM) Given New $85.00 Price Target at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM) had its price target reduced by Stifel Nicolaus from $90.00 to $85.00 in a report issued on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

ZM has been the subject of a number of other reports. Benchmark raised their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Sixteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.81.

Zoom Video Communications Trading Down 8.5 %

ZM stock opened at $74.22 on Tuesday. The firm has a 50 day moving average of $82.92 and a 200-day moving average of $76.67. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $22.75 billion and a price-to-earnings ratio of 24.74.

Insider Activity

In related news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock valued at $31,230,938 in the last ninety days. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its holdings in 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 buying an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in 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 buying an additional 265 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in 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 buying an additional 258 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Zoom Video Communications in the 4th quarter worth about $30,000. Finally, Colonial Trust Co SC bought a new stake in shares of Zoom Video Communications in the 4th quarter worth about $32,000. 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.