Zoom Video Communications (NASDAQ:ZM) Given New $75.00 Price Target at Wells Fargo & Company

Zoom Video Communications (NASDAQ:ZM) had its target price decreased by equities researchers at Wells Fargo & Company from $85.00 to $75.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.40% from the company’s current price.

Several other research firms have also commented on ZM. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Mizuho cut their price objective on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. UBS Group decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup cut their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $86.14.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $70.49 on Tuesday. The stock has a fifty day moving average price of $75.09 and a two-hundred day moving average price of $78.62. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a market cap of $21.52 billion, a P/E ratio of 23.50, a PEG ratio of 5.48 and a beta of 0.67.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 16,099 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $143,583.02. This trade represents a 89.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 242,897 shares of company stock worth $18,941,111 over the last quarter. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently added to or reduced their stakes in ZM. FMR LLC boosted its position in shares of Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank bought a new stake in Zoom Video Communications during the fourth quarter worth $751,908,000. AQR Capital Management LLC boosted its position in Zoom Video Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after purchasing an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company’s stock worth $377,429,000 after acquiring an additional 28,725 shares during the period. 66.54% of the stock is currently owned by 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.