Barclays Issues Pessimistic Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its target price reduced by equities researchers at Barclays from $85.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 9.77% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Citigroup dropped their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. UBS Group lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday. Piper Sandler increased their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Fifteen 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $72.88 on Wednesday. The company has a 50 day simple moving average of $82.54 and a 200 day simple moving average of $76.63. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a market cap of $22.34 billion and a PE ratio of 24.29.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global X Japan Co. Ltd. boosted its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $30,000. Finally, Colonial Trust Co SC bought a new stake in Zoom Video Communications during the fourth quarter worth $32,000. 66.54% of the stock is owned by institutional investors.

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.