UBS Group Has Lowered Expectations for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM) had its target price dropped by UBS Group from $90.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 12.33% from the company’s previous close.

A number of other research firms have also commented on ZM. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Citigroup dropped 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 target price 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, Sanford C. Bernstein raised their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.81.

Zoom Video Communications Trading Down 6.7 %

NASDAQ ZM traded down $5.43 during trading hours on Tuesday, reaching $75.67. 3,631,609 shares of the company’s stock were exchanged, compared to its average volume of 2,435,583. The firm has a fifty day moving average of $83.13 and a 200-day moving average of $76.55. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The stock has a market cap of $23.19 billion and a PE ratio of 25.09.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

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