Stifel Nicolaus Issues Pessimistic Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its price objective lowered by Stifel Nicolaus from $90.00 to $85.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Benchmark upped their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Cantor Fitzgerald started coverage on Zoom Video Communications in a research report on Friday, January 17th. They set a “neutral” rating and a $87.00 target price on the stock. Sanford C. Bernstein boosted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Fifteen equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Price Performance

ZM stock opened at $72.88 on Tuesday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The business has a 50-day moving average price of $82.54 and a 200 day moving average price of $76.63. The company has a market capitalization of $22.34 billion and a P/E ratio of 24.29.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares in the company, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds have recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP lifted its holdings in shares of Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares during the period. HighTower Advisors LLC lifted its holdings in Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new stake in Zoom Video Communications in the 4th quarter worth approximately $1,072,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $62,038,000. 66.54% of the stock is owned by hedge funds and other 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.