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

Zoom Video Communications (NASDAQ:ZM - Get Free Report) had its price objective lowered by equities researchers at Barclays from $85.00 to $80.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential upside of 8.55% from the stock's current price.

Several other research firms have also recently issued reports on ZM. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Mizuho boosted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Citigroup lowered 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 research report on Tuesday, February 18th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Fifteen equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $90.05.

Zoom Video Communications Stock Up 1.1 %

NASDAQ:ZM traded up $0.82 during mid-day trading on Wednesday, hitting $73.70. 3,080,060 shares of the stock traded hands, compared to its average volume of 2,697,621. The stock has a market capitalization of $22.59 billion and a price-to-earnings ratio of 24.57. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The firm's 50 day moving average is $82.30 and its two-hundred day moving average is $76.76.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock valued at $31,230,938 over the last 90 days. Insiders own 10.78% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently bought and sold shares of ZM. Raymond James & Associates boosted its position in Zoom Video Communications by 0.7% during the third quarter. Raymond James & Associates now owns 53,089 shares of the company's stock worth $3,702,000 after acquiring an additional 383 shares during the last quarter. Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after purchasing an additional 180 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Zoom Video Communications by 93.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company's stock worth $2,564,000 after purchasing an additional 17,831 shares during the period. Forsta AP Fonden raised its stake in Zoom Video Communications by 11.8% during the third quarter. Forsta AP Fonden now owns 48,500 shares of the company's stock worth $3,382,000 after purchasing an additional 5,100 shares during the period. Finally, PFG Investments LLC purchased a new position in Zoom Video Communications during the third quarter worth about $228,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.