Zoom Video Communications (NASDAQ:ZM) Earns Hold Rating from Needham & Company LLC

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

Several other research analysts also recently commented on ZM. Sanford C. Bernstein lifted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a research report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price objective on the stock. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Finally, UBS Group increased their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sixteen 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, Zoom Video Communications presently has a consensus rating of “Hold” and an average target price of $89.48.

Zoom Video Communications Stock Down 1.7 %

ZM stock opened at $81.10 on Tuesday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $24.86 billion and a price-to-earnings ratio of 27.03. The business has a 50 day moving average price of $83.13 and a two-hundred day moving average price of $76.55.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. On average, equities research analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its holdings in Zoom Video Communications by 0.7% during the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company’s stock valued at $3,702,000 after acquiring an additional 383 shares during the period. International Assets Investment Management LLC raised its stake in shares of Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after purchasing an additional 492,520 shares during the period. Allworth Financial LP increased its position in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Zoom Video Communications by 93.7% in the 3rd 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 in the last quarter. Finally, Forsta AP Fonden raised its position in shares of Zoom Video Communications by 11.8% in the third quarter. Forsta AP Fonden now owns 48,500 shares of the company’s stock worth $3,382,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

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.