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

Needham & Company LLC restated their hold rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Friday,Benzinga reports.

Several other research firms have also recently commented on ZM. UBS Group lifted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Stifel Nicolaus increased their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Barclays boosted their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.81.

Zoom Video Communications Stock Down 0.6 %

ZM opened at $79.46 on Friday. The firm has a market cap of $24.35 billion, a P/E ratio of 26.49, a PEG ratio of 5.29 and a beta of -0.01. The business’s fifty day simple moving average is $82.96 and its 200 day simple moving average is $70.91. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 381,383 shares of company stock valued at $29,586,681. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Several large investors have recently added to or reduced their stakes in ZM. Wealth Enhancement Advisory Services LLC boosted its position in Zoom Video Communications by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 74,890 shares of the company’s stock worth $6,112,000 after acquiring an additional 398 shares during the period. Nordea Investment Management AB lifted its holdings in Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after purchasing an additional 521,778 shares during the period. Everence Capital Management Inc. bought a new position in Zoom Video Communications in the 4th quarter valued at about $346,000. GAMMA Investing LLC increased its stake in Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after buying an additional 164 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Zoom Video Communications by 53.0% during the 4th quarter. Versant Capital Management Inc now owns 1,509 shares of the company’s stock worth $123,000 after buying an additional 523 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.