Morgan Stanley Trims Zoom Video Communications (NASDAQ:ZM) Target Price to $85.00

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price target lowered by Morgan Stanley from $90.00 to $85.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 11.64% from the stock’s previous close.

Other analysts have also issued research reports about the stock. BTIG Research lowered shares of Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. KeyCorp began coverage on shares of Zoom Video Communications in a research note on Monday, September 12th. They issued a “sector weight” rating for the company. Credit Suisse Group began coverage on shares of Zoom Video Communications in a research note on Friday, September 23rd. They issued a “neutral” rating and a $83.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of Zoom Video Communications from $142.00 to $122.00 and set a “neutral” rating for the company in a research report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $115.86.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $76.14 on Tuesday. Zoom Video Communications has a 52-week low of $70.43 and a 52-week high of $235.97. The firm has a 50 day moving average price of $78.58 and a two-hundred day moving average price of $93.66. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.01 and a beta of -0.29.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings data on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.23. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a net margin of 16.07% and a return on equity of 8.80%. Zoom Video Communications’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. As a group, equities research analysts predict that Zoom Video Communications will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction dated Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the transaction, the insider now directly owns 15,869 shares of the company’s stock, valued at approximately $1,136,061.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in ZM. SeaCrest Wealth Management LLC purchased a new position in shares of Zoom Video Communications in the 2nd quarter worth about $26,000. Ronald Blue Trust Inc. bought a new stake in Zoom Video Communications in the 2nd quarter valued at about $27,000. Wagner Wealth Management LLC bought a new stake in Zoom Video Communications in the 2nd quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. raised its stake in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, TCI Wealth Advisors Inc. raised its stake in Zoom Video Communications by 57.9% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock valued at $39,000 after acquiring an additional 194 shares during the period. 52.86% of the stock is owned by hedge funds and other institutional investors.

About Zoom Video Communications

(Get Rating)

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.

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