Evercore ISI Trims Zoom Video Communications (NASDAQ:ZM) Target Price to $70.00

Zoom Video Communications (NASDAQ:ZM) had its target price cut by Evercore ISI from $72.00 to $70.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the stock.

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

Zoom Video Communications Trading Up 0.9 %

Shares of NASDAQ:ZM opened at $63.01 on Tuesday. The stock has a fifty day simple moving average of $63.06 and a two-hundred day simple moving average of $65.88. Zoom Video Communications has a 12-month low of $58.87 and a 12-month high of $75.90. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 11.15 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 analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.84%. As a group, equities research analysts predict that Zoom Video Communications will post 2.15 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Aparna Bawa sold 816 shares of the company’s 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 sale, the chief operating officer now directly 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 can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. Insiders have sold a total of 101,170 shares of company stock worth $6,356,101 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in Zoom Video Communications during the fourth quarter worth $25,000. Quadrant Capital Group LLC increased its position in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after buying an additional 267 shares in the last quarter. AM Squared Ltd purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $28,000. Frazier Financial Advisors LLC acquired a new stake in Zoom Video Communications in the 4th quarter valued at about $32,000. Finally, Allworth Financial LP increased its holdings in Zoom Video Communications by 101.4% during the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after acquiring an additional 282 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.