Stifel Nicolaus Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its target price trimmed 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.

Several other research firms have also commented on ZM. Benchmark upped their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Citigroup decreased their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Mizuho boosted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.05.

Zoom Video Communications Trading Down 1.7 %

Shares of NASDAQ ZM opened at $72.88 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 $22.34 billion and a price-to-earnings ratio of 24.29. The firm has a 50 day moving average of $82.54 and a 200 day moving average of $76.63.

Insider Activity

In other news, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $7,189,884.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZM. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% during the fourth 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 boosted its holdings in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares during the period. Avior Wealth Management LLC grew its position in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in Zoom Video Communications in the fourth quarter worth $30,000. Finally, Colonial Trust Co SC bought a new stake in shares of Zoom Video Communications during the fourth quarter worth $32,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

About Zoom Video Communications

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.