Morgan Stanley Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $73.00

Zoom Video Communications (NASDAQ:ZM) had its target price lowered by Morgan Stanley from $96.00 to $73.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the company. UBS Group cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Mizuho lowered their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $86.62.

Zoom Video Communications Stock Up 0.4 %

NASDAQ ZM opened at $71.49 on Wednesday. The stock’s 50-day simple moving average is $75.34 and its two-hundred day simple moving average is $78.45. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $21.82 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 5.48 and a beta of 0.67.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares of the company’s stock, valued at approximately $9,026,790.39. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,897 shares of company stock valued at $18,941,111. 10.78% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

Institutional investors have recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Zoom Video Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after acquiring an additional 246 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $30,000. 66.54% of the stock is owned by hedge funds and other 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.