Zoom Video Communications (NASDAQ:ZM) Price Target Cut to $73.00 by Analysts at Morgan Stanley

Zoom Video Communications (NASDAQ:ZM - Get Free Report) had its target price cut by Morgan Stanley from $96.00 to $73.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 3.56% from the company's previous close.

A number of other research analysts also recently commented on the company. Scotiabank lowered their target price on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Mizuho lowered their price target on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup lowered their target price 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $86.62.

Zoom Video Communications Trading Down 1.4 %

Zoom Video Communications stock traded down $1.00 during mid-day trading on Wednesday, hitting $70.49. The stock had a trading volume of 1,349,616 shares, compared to its average volume of 3,078,072. The firm's 50 day moving average is $75.34 and its 200 day moving average is $78.60. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The firm has a market capitalization of $21.52 billion, a P/E ratio of 23.50, a P/E/G ratio of 5.48 and a beta of 0.67.

Insider Activity at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 242,897 shares of company stock worth $18,941,111 in the last 90 days. Corporate insiders own 10.78% of the company's stock.

Institutional Trading of Zoom Video Communications

Large investors have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. lifted its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC increased its position 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 acquiring an additional 265 shares during the period. Raiffeisen Bank International AG acquired a new stake in Zoom Video Communications in the 4th quarter valued at about $30,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Zoom Video Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the period. 66.54% of the stock is currently owned by hedge funds and other 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.