UBS Group Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $85.00

Zoom Video Communications (NASDAQ:ZM) had its price target trimmed by UBS Group from $90.00 to $85.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on ZM. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.05.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $72.88 on Tuesday. The firm has a market capitalization of $22.34 billion and a PE ratio of 24.29. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The stock’s 50 day moving average price is $82.54 and its 200 day moving average price is $76.63.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 382,242 shares of company stock worth $31,230,938. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock worth $1,038,694,000 after acquiring an additional 282,645 shares in the last quarter. Norges Bank acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth $751,908,000. AQR Capital Management LLC grew its holdings in shares of Zoom Video Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after buying an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after buying an additional 1,247,717 shares during the period. Finally, State Street Corp raised its position in Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 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.