Mizuho Has Lowered Expectations for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its target price lowered by research analysts at Mizuho from $105.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential downside of 1.36% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus dropped their price target on 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. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.71.

Zoom Video Communications Stock Up 0.9 %

ZM opened at $71.98 on Tuesday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $21.97 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The stock’s 50 day moving average price is $76.49 and its two-hundred day moving average price is $78.51.

Insider Transactions at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,338 shares of company stock valued at $15,054,153 in the last quarter. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of ZM. Merit Financial Group LLC purchased a new stake in Zoom Video Communications in the fourth quarter worth about $1,072,000. Nordea Investment Management AB lifted its position in Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after buying an additional 521,778 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Zoom Video Communications by 48.1% during the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after buying an additional 293,375 shares in the last quarter. Swedbank AB boosted its holdings in shares of Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company’s stock valued at $6,712,000 after buying an additional 40,351 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock worth $7,868,000 after buying an additional 7,518 shares during the period. 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.