Stifel Nicolaus Issues Pessimistic Forecast for Zoom Video Communications (NASDAQ:ZM) Stock Price

Zoom Video Communications (NASDAQ:ZM - Free Report) had its price target reduced by Stifel Nicolaus from $90.00 to $85.00 in a report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the stock. Citigroup reduced their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Barclays raised their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Mizuho lifted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Piper Sandler increased their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, Evercore ISI upgraded Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average target price of $90.05.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM traded up $0.82 during trading hours on Tuesday, reaching $73.70. The stock had a trading volume of 3,080,060 shares, compared to its average volume of 2,697,621. The company has a market cap of $22.59 billion and a price-to-earnings ratio of 24.57. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The business's fifty day moving average is $82.54 and its two-hundred day moving average is $76.63.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,251 shares of the company's stock, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock worth $31,230,938 in the last quarter. Insiders own 10.78% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Baker Avenue Asset Management LP grew 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 during the period. HighTower Advisors LLC boosted 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 purchasing an additional 52,039 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $1,072,000. Robeco Institutional Asset Management B.V. increased its position in shares of Zoom Video Communications by 15.4% in the 3rd 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. acquired a new stake in Zoom Video Communications during the 3rd quarter worth $62,038,000. Institutional investors and hedge funds own 66.54% of the company's stock.

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.