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

Zoom Video Communications (NASDAQ:ZM - Get Free Report) had its target price cut by equities research analysts at Mizuho from $105.00 to $71.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential downside of 0.69% from the stock's previous close.

A number of other analysts have also recently weighed in on ZM. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup reduced their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Barclays cut their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Benchmark restated a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $86.62.

Zoom Video Communications Stock Up 0.4 %

ZM traded up $0.29 during midday trading on Tuesday, reaching $71.49. 1,434,603 shares of the company's stock were exchanged, compared to its average volume of 3,082,843. The business has a 50-day simple moving average of $75.59 and a two-hundred day simple moving average of $78.43. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $143,583.02. This trade represents a 89.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 242,897 shares of company stock valued at $18,941,111 over the last 90 days. 10.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZM. Global X Japan Co. Ltd. grew its stake in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Zoom Video Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at approximately $30,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.