Benchmark Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $102.00

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price objective reduced by Benchmark from $118.00 to $102.00 in a research note issued to investors on Tuesday, The Fly reports.

ZM has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price objective on Zoom Video Communications from $142.00 to $122.00 and set a neutral rating for the company in a report on Tuesday, August 23rd. JPMorgan Chase & Co. cut Zoom Video Communications from an overweight rating to a neutral rating and reduced their price objective for the stock from $295.00 to $85.00 in a report on Friday, October 7th. Moffett Nathanson reduced their price objective on Zoom Video Communications from $85.00 to $80.00 and set an underperform rating for the company in a report on Tuesday. Morgan Stanley reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set an equal weight rating for the company in a report on Tuesday. Finally, Credit Suisse Group initiated coverage on Zoom Video Communications in a research note on Friday, September 23rd. They issued a neutral rating and a $83.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $115.86.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $76.14 on Tuesday. The stock’s 50-day simple moving average is $78.51 and its 200 day simple moving average is $93.54. The company has a market cap of $22.66 billion, a P/E ratio of 33.39, a P/E/G ratio of 3.01 and a beta of -0.29. Zoom Video Communications has a 52-week low of $70.43 and a 52-week high of $235.97.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings results on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.23. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, equities analysts predict that Zoom Video Communications will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,374 shares of the company’s stock in a transaction on Saturday, October 8th. The shares were sold at an average price of $71.59, for a total transaction of $169,954.66. Following the sale, the insider now owns 15,869 shares of the company’s stock, valued at $1,136,061.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.24% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently made changes to their positions in ZM. SeaCrest Wealth Management LLC bought a new position in shares of Zoom Video Communications during the 2nd quarter worth about $26,000. Ronald Blue Trust Inc. bought a new position in Zoom Video Communications in the 2nd quarter valued at about $27,000. Wagner Wealth Management LLC bought a new position in Zoom Video Communications in the 2nd quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. lifted its position in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in Zoom Video Communications by 57.9% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock valued at $39,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 52.86% of the company’s stock.

About Zoom Video Communications

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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.

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