Zoom Video Communications (NASDAQ:ZM) Price Target Lowered to $75.00 at Scotiabank

Zoom Video Communications (NASDAQ:ZM) had its price objective reduced by analysts at Scotiabank from $85.00 to $75.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 0.23% from the stock’s previous close.

A number of other analysts also recently commented on ZM. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Sanford C. Bernstein boosted their price target on shares of 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. UBS Group dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $89.33.

Zoom Video Communications Trading Up 0.8 %

NASDAQ:ZM traded up $0.63 during mid-day trading on Monday, hitting $74.83. The stock had a trading volume of 458,993 shares, compared to its average volume of 2,675,927. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 5.48 and a beta of 0.26. The company has a 50 day simple moving average of $80.44 and a 200-day simple moving average of $77.72. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock valued at $29,496,892 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Several large investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ bought a new stake in Zoom Video Communications in the fourth quarter worth approximately $7,255,000. Siemens Fonds Invest GmbH grew its position in Zoom Video Communications by 3.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock worth $391,000 after acquiring an additional 174 shares in the last quarter. Fluent Financial LLC bought a new stake in Zoom Video Communications in the fourth quarter worth approximately $623,000. Menard Financial Group LLC grew its position in Zoom Video Communications by 7.4% in the fourth quarter. Menard Financial Group LLC now owns 4,651 shares of the company’s stock worth $380,000 after acquiring an additional 320 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Zoom Video Communications in the fourth quarter worth approximately $20,430,000. 66.54% of the stock is owned by 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.