Zoom Video Communications (NASDAQ:ZM) Given New $80.00 Price Target at Barclays

Zoom Video Communications (NASDAQ:ZM) had its price objective reduced by equities researchers at Barclays from $85.00 to $80.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 7.79% from the company’s current price.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday. Finally, Mizuho upped their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Sixteen equities research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.57.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $74.22 on Wednesday. The business’s 50 day moving average price is $82.92 and its 200-day moving average price is $76.67. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a market cap of $22.75 billion and a P/E ratio of 24.74.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 83,332 shares of the company’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 can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock valued at $31,230,938 over the last quarter. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently bought and sold shares of ZM. Baker Avenue Asset Management LP grew its position in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,890 shares during the last quarter. HighTower Advisors LLC lifted its position in Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new stake in Zoom Video Communications in the 4th quarter valued at approximately $1,072,000. Robeco Institutional Asset Management B.V. boosted its holdings in Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications during the 3rd quarter worth approximately $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.