The Goldman Sachs Group Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $142.00

Zoom Video Communications (NASDAQ:ZMGet Rating) had its target price decreased by stock analysts at The Goldman Sachs Group from $163.00 to $142.00 in a research note issued on Tuesday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 56.54% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. CICC Research assumed coverage on shares of Zoom Video Communications in a research note on Monday, February 14th. They set an “outperform” rating and a $182.92 price target on the stock. Wolfe Research downgraded shares of Zoom Video Communications from an “outperform” rating to a “peer perform” rating and dropped their target price for the stock from $140.00 to $100.00 in a research report on Wednesday, March 2nd. Wells Fargo & Company decreased their price target on shares of Zoom Video Communications from $145.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, March 15th. TheStreet raised shares of Zoom Video Communications from a “d” rating to a “c” rating in a report on Monday, April 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Zoom Video Communications from $385.00 to $295.00 and set an “overweight” rating for the company in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $178.58.

Shares of ZM traded up $1.38 during mid-day trading on Tuesday, reaching $90.71. The company had a trading volume of 424,418 shares, compared to its average volume of 4,657,702. The stock has a market cap of $27.13 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.38 and a beta of -0.66. The firm has a fifty day simple moving average of $105.90 and a 200-day simple moving average of $149.04. Zoom Video Communications has a fifty-two week low of $79.03 and a fifty-two week high of $406.48.

Zoom Video Communications (NASDAQ:ZMGet Rating) last issued its earnings results on Monday, May 23rd. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. Zoom Video Communications had a net margin of 33.54% and a return on equity of 21.17%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Zoom Video Communications will post 1.38 EPS for the current fiscal year.

In other news, COO Aparna Bawa sold 2,000 shares of the stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $122.38, for a total value of $244,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 6,700 shares of the stock in a transaction on Monday, April 25th. The shares were sold at an average price of $100.00, for a total transaction of $670,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,534 shares of company stock valued at $6,270,060. Corporate insiders own 11.24% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Zoom Video Communications by 6.4% in the 2nd quarter. Morgan Stanley now owns 12,384,701 shares of the company’s stock valued at $4,793,252,000 after purchasing an additional 742,240 shares during the last quarter. US Bancorp DE raised its holdings in Zoom Video Communications by 31.7% during the 3rd quarter. US Bancorp DE now owns 9,114 shares of the company’s stock worth $2,384,000 after buying an additional 2,193 shares during the period. American Century Companies Inc. raised its holdings in Zoom Video Communications by 28.9% during the 3rd quarter. American Century Companies Inc. now owns 14,667 shares of the company’s stock worth $3,835,000 after buying an additional 3,291 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Zoom Video Communications by 9.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 5,245 shares of the company’s stock worth $1,372,000 after buying an additional 474 shares during the period. Finally, First Republic Investment Management Inc. raised its holdings in Zoom Video Communications by 32.3% during the 3rd quarter. First Republic Investment Management Inc. now owns 10,433 shares of the company’s stock worth $2,728,000 after buying an additional 2,550 shares during the period. Institutional investors and hedge funds own 55.94% of the company’s stock.

Zoom Video Communications Company Profile (Get Rating)

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.

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