Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $100.00 by Analysts at Mizuho

Zoom Video Communications (NASDAQ:ZMGet Rating) had its target price decreased by Mizuho from $120.00 to $100.00 in a research note published on Tuesday morning, The Fly reports. Mizuho currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company cut their price objective on Zoom Video Communications from $95.00 to $80.00 and set an equal weight rating for the company in a research report on Tuesday. Credit Suisse Group started coverage on Zoom Video Communications in a research report on Friday, September 23rd. They issued a neutral rating and a $83.00 price target for the company. The Goldman Sachs Group dropped their price target on Zoom Video Communications from $142.00 to $122.00 and set a neutral rating for the company in a research report on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Zoom Video Communications from $105.00 to $95.00 in a research report on Tuesday, August 23rd. Finally, MKM Partners dropped their price target on Zoom Video Communications from $125.00 to $100.00 in a research report on Wednesday, November 9th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $122.48.

Zoom Video Communications Stock Down 3.9 %

Shares of Zoom Video Communications stock opened at $77.15 on Tuesday. The firm has a market cap of $22.96 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 3.13 and a beta of -0.29. The business has a 50-day moving average price of $78.58 and a 200-day moving average price of $93.66. Zoom Video Communications has a twelve month low of $70.43 and a twelve month high of $235.97.

Zoom Video Communications (NASDAQ:ZMGet Rating) last issued its quarterly earnings data on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. On average, equities analysts expect that Zoom Video Communications will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction that occurred on Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the completion of the transaction, the insider now owns 15,869 shares of the company’s stock, valued at $1,136,061.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 11.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signature Wealth Management Partners LLC grew its holdings in Zoom Video Communications by 4.5% in the second quarter. Signature Wealth Management Partners LLC now owns 2,426 shares of the company’s stock worth $262,000 after purchasing an additional 105 shares during the last quarter. Ieq Capital LLC grew its holdings in Zoom Video Communications by 0.4% in the second quarter. Ieq Capital LLC now owns 27,254 shares of the company’s stock worth $2,943,000 after purchasing an additional 109 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. CNB Bank grew its holdings in Zoom Video Communications by 7.0% in the second quarter. CNB Bank now owns 1,794 shares of the company’s stock worth $194,000 after purchasing an additional 118 shares during the last quarter. Finally, Brinker Capital Investments LLC grew its holdings in Zoom Video Communications by 5.2% in the second quarter. Brinker Capital Investments LLC now owns 2,421 shares of the company’s stock worth $261,000 after purchasing an additional 120 shares during the last quarter. 52.86% of the stock is owned by hedge funds and other institutional investors.

About Zoom Video Communications

(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.

Read More

The Fly logo

Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.