Stifel Nicolaus Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its target price cut by research analysts at Stifel Nicolaus from $90.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 4.81% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Morgan Stanley boosted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Mizuho raised their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.24.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $81.10 on Tuesday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50 day moving average price of $83.13 and a 200-day moving average price of $76.55. The firm has a market cap of $24.86 billion and a PE ratio of 27.03.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Research analysts predict that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Transactions at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. This represents a 94.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its position in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after buying an additional 282,645 shares during the last quarter. Norges Bank bought a new stake in shares of Zoom Video Communications in the fourth quarter worth approximately $751,908,000. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after purchasing an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the period. Finally, State Street Corp boosted its holdings in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. 66.54% of the stock is owned by 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.