Zoom Video Communications (NASDAQ:ZM) PT Lowered to $68.00

Zoom Video Communications (NASDAQ:ZM) had its target price reduced by Morgan Stanley from $72.00 to $68.00 in a research report released on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein cut their price target on shares of Zoom Video Communications from $82.00 to $78.00 and set a market perform rating on the stock in a report on Tuesday, May 21st. Stifel Nicolaus cut their price target on shares of Zoom Video Communications from $70.00 to $65.00 and set a hold rating on the stock in a report on Tuesday, May 21st. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They set a hold rating and a $70.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Zoom Video Communications from $70.00 to $60.00 and set an underweight rating on the stock in a research note on Tuesday, May 21st. Finally, Robert W. Baird decreased their price target on shares of Zoom Video Communications from $90.00 to $84.00 and set an outperform rating for the company in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of Hold and an average price target of $75.72.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $56.95 on Friday. Zoom Video Communications has a fifty-two week low of $56.40 and a fifty-two week high of $75.90. The stock has a 50 day simple moving average of $61.76 and a two-hundred day simple moving average of $65.56. The company has a market cap of $17.61 billion, a P/E ratio of 21.25, a PEG ratio of 8.86 and a beta of -0.01.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.23. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. On average, research analysts predict that Zoom Video Communications will post 2.43 earnings per share for the current year.

Insider Activity

In related news, CAO Shane Crehan sold 5,099 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total transaction of $321,084.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Velchamy Sankarlingam sold 3,791 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total value of $238,719.27. Following the sale, the insider now directly owns 91,721 shares of the company’s stock, valued at $5,775,671.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Shane Crehan sold 5,099 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total value of $321,084.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,200 shares of company stock valued at $6,760,623. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently bought and sold shares of ZM. Principal Securities Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter worth $25,000. Quadrant Capital Group LLC lifted its position in Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Zoom Video Communications during the fourth quarter valued at about $32,000. Rakuten Securities Inc. purchased a new stake in Zoom Video Communications in the fourth quarter worth about $43,000. Finally, GAMMA Investing LLC bought a new position in shares of Zoom Video Communications in the fourth quarter worth about $48,000. 66.54% of the stock is currently 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.