Needham & Company LLC Reaffirms “Hold” Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “hold” rating restated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Several other equities analysts have also issued reports on the company. Mizuho boosted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein upped their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Piper Sandler upped their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.81.

Zoom Video Communications Stock Down 0.6 %

ZM opened at $79.46 on Friday. The stock has a market cap of $24.35 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 5.29 and a beta of -0.01. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a fifty day moving average of $82.96 and a 200-day moving average of $71.01.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now owns 34,703 shares in the company, valued at approximately $2,730,779.07. The trade was a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 381,383 shares of company stock valued at $29,586,681 over the last ninety days. 10.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after acquiring an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. FMR LLC raised its stake in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Zoom Video Communications during the third quarter valued at approximately $62,038,000. Finally, Nordea Investment Management AB grew its stake in Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 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.