Zoom Video Communications (NASDAQ:ZM) PT Lowered to $84.00 at Robert W. Baird

Zoom Video Communications (NASDAQ:ZM) had its price objective lowered by Robert W. Baird from $90.00 to $84.00 in a research note released on Tuesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on ZM. Wedbush reaffirmed a neutral rating and set a $80.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 27th. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They set a hold rating and a $70.00 price target for the company. Rosenblatt Securities raised Zoom Video Communications from a neutral rating to a buy rating and set a $75.00 price objective on the stock in a report on Thursday, April 18th. Mizuho lowered their target price on Zoom Video Communications from $100.00 to $90.00 and set a buy rating for the company in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. dropped their target price on Zoom Video Communications from $83.00 to $80.00 and set a neutral rating for the company in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $76.18.

Zoom Video Communications Price Performance

Shares of ZM opened at $62.42 on Tuesday. The firm has a 50 day simple moving average of $63.12 and a two-hundred day simple moving average of $65.87. Zoom Video Communications has a one year low of $58.87 and a one year high of $75.90. The company has a market cap of $19.20 billion, a P/E ratio of 23.29 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, analysts expect that Zoom Video Communications will post 2.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 1,553 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares in the company, valued at approximately $5,036,920. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,170 shares of company stock valued at $6,356,101. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pearl River Capital LLC grew its holdings in shares of Zoom Video Communications by 31.6% during the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after buying an additional 8,928 shares during the last quarter. California Public Employees Retirement System boosted its stake in Zoom Video Communications by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after purchasing an additional 14,945 shares during the last quarter. Vanguard Group Inc. increased its holdings in Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. Galvin Gaustad & Stein LLC raised its stake in shares of Zoom Video Communications by 25.4% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after purchasing an additional 66,433 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Zoom Video Communications by 556.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock valued at $8,923,000 after purchasing an additional 105,173 shares in the last quarter. 66.54% of the stock is owned by 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.