Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $90.00 by Analysts at The Goldman Sachs Group

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price target reduced by The Goldman Sachs Group from $104.00 to $90.00 in a research report released on Wednesday, Stock Target Advisor reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on ZM. Argus cut shares of Zoom Video Communications from a buy rating to a hold rating in a research note on Friday, August 26th. Evercore ISI reduced their price objective on shares of Zoom Video Communications from $95.00 to $85.00 in a research report on Tuesday. Citigroup reduced their price objective on shares of Zoom Video Communications from $76.00 to $72.00 and set a sell rating for the company in a research report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zoom Video Communications from $95.00 to $75.00 and set a hold rating for the company in a research report on Tuesday. Finally, KeyCorp started coverage on shares of Zoom Video Communications in a research report on Monday, September 12th. They set a sector weight rating for the company. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has a consensus rating of Hold and a consensus target price of $115.86.

Zoom Video Communications Trading Down 1.3 %

NASDAQ:ZM opened at $76.14 on Wednesday. Zoom Video Communications has a 1-year low of $70.43 and a 1-year high of $235.97. The firm has a fifty day simple moving average of $78.58 and a 200 day simple moving average of $93.66. The stock has a market capitalization of $22.66 billion, a PE ratio of 33.39, a P/E/G ratio of 3.01 and a beta of -0.29.

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

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction dated Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction 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 SEC, which can be accessed through this hyperlink. 11.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZM. Comerica Bank increased its stake in shares of Zoom Video Communications by 54.1% in the first quarter. Comerica Bank now owns 6,230 shares of the company’s stock valued at $646,000 after buying an additional 2,188 shares during the period. Venture Visionary Partners LLC acquired a new position in shares of Zoom Video Communications in the first quarter valued at approximately $381,000. Arizona State Retirement System increased its stake in shares of Zoom Video Communications by 0.8% in the first quarter. Arizona State Retirement System now owns 59,823 shares of the company’s stock valued at $7,013,000 after buying an additional 481 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Zoom Video Communications by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 54,457 shares of the company’s stock valued at $6,384,000 after buying an additional 5,926 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Zoom Video Communications by 17.6% in the first quarter. Benjamin Edwards Inc. now owns 881 shares of the company’s stock valued at $103,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 52.86% of the company’s stock.

Zoom Video Communications Company Profile

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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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