Mizuho Cuts Zoom Video Communications (NASDAQ:ZM) Price Target to $71.00

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

Other analysts have also issued research reports about the company. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their target price for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Citigroup dropped their price target 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. Stifel Nicolaus lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen equities research 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's stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and a consensus target price of $86.62.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM traded up $0.29 during mid-day trading on Tuesday, hitting $71.49. The company had a trading volume of 1,434,603 shares, compared to its average volume of 3,085,014. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market cap of $21.82 billion, a P/E ratio of 23.83, a PEG ratio of 5.48 and a beta of 0.67. The business's 50-day simple moving average is $75.34 and its 200-day simple moving average is $78.52.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. This trade represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,897 shares of company stock worth $18,941,111. 10.78% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

Institutional investors have recently modified their holdings of the company. FMR LLC grew its position in Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank bought a new position in shares of Zoom Video Communications in the 4th quarter valued at about $751,908,000. AQR Capital Management LLC grew its holdings in shares of Zoom Video Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after acquiring an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after acquiring an additional 1,247,717 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Zoom Video Communications by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

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.