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

Needham & Company LLC reaffirmed their hold rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report issued on Tuesday,Benzinga reports.

A number of other equities analysts have also recently commented on ZM. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $115.00 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 target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Mizuho boosted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Finally, Barclays upped their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Fifteen investment 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 stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Trading Down 1.7 %

ZM opened at $72.88 on Tuesday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80. The business’s 50-day moving average price is $82.54 and its 200-day moving average price is $76.63. The company has a market cap of $22.34 billion and a P/E ratio of 24.29.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were 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 in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 382,242 shares of company stock worth $31,230,938. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. grew its stake in shares of 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 acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Zoom Video Communications by 277.4% in 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. Raiffeisen Bank International AG purchased a new position in Zoom Video Communications during the 4th quarter worth approximately $30,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at $32,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Company Profile

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.