Wells Fargo & Company Reduces Target Price for Zoom Video Communications (NASDAQ: ZM) to $ 200.00



Zoom Video Communications (NASDAQ: ZM) saw its price target cut by equity research analysts to Wells Fargo & Company from $ 245.00 to $ 200.00 in a research note issued on Monday, Fly reports. The brokerage currently has a “peer-to-peer” rating on the stock. Wells Fargo & CompanyThe target price of s indicates a potential rise of 7.96% from the previous close of the company.

Other analysts have also published research reports on the stock. KeyCorp reiterated a “buy” note and issued a target price of $ 398.00 on Zoom Video Communications shares in a research note on Tuesday, September 14. Zacks investment research raised Zoom Video Communications’ shares from a “hold” rating to a “buy” rating and set a price target of $ 219.00 on the stock in a report released on Thursday, November 25. Barclays reissued an “equal weight” rating and issued a target price of $ 270.00 on Zoom Video Communications shares in a report released on Monday, November 22. Daiwa Capital Markets raised Zoom Video Communications’ shares from a “sell” rating to an “underperformance” rating and set a price target of $ 207.00 on the stock in a report released on Tuesday. November 30. Finally, JPMorgan Chase & Co. raised Zoom Video Communications shares from a “neutral” rating to an “overweight” rating and set a price target of $ 385.00 on the stock in a Friday 22nd report. October. One analyst rated the stock with a sell rating, fourteen assigned a conservation rating, and thirteen assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $ 318.77.

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Actions of Focus on video communications stock open for $ 185.25 on Mondays. The company has a market cap of $ 55.20 billion, a PE ratio of 49.27, a price / earnings-growth ratio of 2.85, and a beta of -1.19. The company’s 50-day moving average is $ 246.95 and its 200-day moving average is $ 308.32. Zoom Video Communications has a one-year minimum of $ 175.27 and a one-year maximum of $ 451.77.

Zoom Video Communications (NASDAQ: ZM) last released its results on Monday, November 22. The company reported EPS of $ 1.11 for the quarter, beating the consensus estimate of $ 1.09 by $ 0.02. The company posted revenue of $ 1.05 billion for the quarter, compared to a consensus estimate of $ 1.02 billion. Zoom Video Communications had a net margin of 29.28% and a return on equity of 24.22%. The company’s turnover increased 35.2% compared to the same quarter last year. During the same period last year, the company earned $ 0.66 per share. As a group, equity research analysts predict that Zoom Video Communications will post 3.39 EPS for the current year.

In other news from Zoom Video Communications, CRO Ryan azus sold 2,236 shares of Zoom Video Communications in a transaction that took place on Wednesday September 15th. The shares were sold for an average price of $ 279.93, for a total value of $ 625,923.48. As a result of the transaction, the executive now owns 38,069 shares of the company, valued at $ 10,656,655.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, director Carl M. Eschenbach sold 184 shares of Zoom Video Communications in a trade on Tuesday, November 2. The shares were sold at an average price of $ 285.00, for a total trade of $ 52,440.00. Disclosure of this sale can be found here. Insiders have sold 97,586 shares of the company valued at $ 25,324,991 in the past 90 days. Insiders own 12.27% of the shares of the company.

A number of institutional investors and hedge funds have recently changed their positions in the stock. First Mercantile Trust Co. increased its stake in Zoom Video Communications by 16.0% in the third quarter. First Mercantile Trust Co. now owns 7,102 shares of the company valued at $ 1,857,000 after purchasing an additional 982 shares during the period. Comerica Bank increased its position in Zoom Video Communications shares by 45.5% in the 3rd quarter. Comerica Bank now owns 15,252 shares of the company valued at $ 4,808,000 after purchasing an additional 4,767 shares during the period. American International Group Inc. increased its stake in Zoom Video Communications shares by 1.7% in the 3rd quarter. American International Group Inc. now owns 15,080 shares of the company valued at $ 3,943,000 after acquiring 251 additional shares in the last quarter. Gyon Technologies Capital Management LP increased its stake in Zoom Video Communications by 73.8% during the 3rd quarter. Gyon Technologies Capital Management LP now owns 10,026 shares of the company valued at $ 2,622,000 after purchasing an additional 4,258 shares in the last quarter. Finally, Mint Tower Capital Management BV purchased a new stake in Zoom Video Communications during the 3rd quarter for a value of $ 112,000. Institutional investors and hedge funds hold 46.51% of the company’s shares.

About Zoom Video Communications

Zoom Video Communications, Inc. is committed to providing a video communications platform. The company offers meetings, discussions, rooms and workspaces, phone systems, video webinars, marketplace and development platform products. It serves the education, finance, government and health sectors. Its platform helps people connect through voice, chat, content sharing, and face-to-face video experiences.

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Analyst Recommendations for Zoom Video Communications (NASDAQ: ZM)

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