Zoom Video Communications’ (ZM) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Piper Sandler increased their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Finally, UBS Group raised their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $89.48.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $81.10 on Tuesday. The company has a market capitalization of $24.86 billion and a price-to-earnings ratio of 27.03. The business has a 50 day moving average of $83.13 and a 200 day moving average of $76.55. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.78 EPS 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%. As a group, sell-side analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Buying and Selling

In other news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors have recently made changes to their positions in ZM. Norges Bank bought a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $751,908,000. FMR LLC boosted its holdings in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares during the period. Altshuler Shaham Ltd increased its stake in Zoom Video Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock worth $167,813,000 after buying an additional 1,523,480 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at about $99,471,000. Institutional investors own 66.54% of the company’s stock.

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.