UBS Group Lowers Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its price objective decreased by research analysts at UBS Group from $90.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 12.33% from the company’s current price.

Several other analysts also recently commented on ZM. Morgan Stanley boosted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Citigroup reduced their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Mizuho increased their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group lifted their price objective 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. Sixteen investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.81.

Zoom Video Communications Stock Down 6.7 %

Zoom Video Communications stock traded down $5.43 during trading hours on Tuesday, hitting $75.67. 3,631,609 shares of the company traded hands, compared to its average volume of 2,435,583. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market cap of $23.19 billion and a P/E ratio of 25.09. The firm’s 50-day simple moving average is $83.13 and its two-hundred day simple moving average is $76.55.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 9,317 shares of the company’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 $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock worth $31,230,938 in the last 90 days. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global X Japan Co. Ltd. grew its holdings in shares of Zoom Video Communications by 127.5% in the 4th 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 period. Parkside Financial Bank & Trust increased its holdings in shares of Zoom Video Communications by 277.4% during the 4th 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 last quarter. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. Raiffeisen Bank International AG acquired a new stake in Zoom Video Communications in the 4th quarter worth about $30,000. Finally, Colonial Trust Co SC bought a new position in shares of Zoom Video Communications in the fourth quarter worth $32,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.