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

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

Other research analysts have also issued reports about the company. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Stifel Nicolaus increased their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Bank of America boosted 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 report on Tuesday, November 26th. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $89.57.

Zoom Video Communications Trading Down 0.1 %

NASDAQ ZM opened at $74.15 on Tuesday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm’s fifty day simple moving average is $82.76 and its 200-day simple moving average is $76.66. The company has a market capitalization of $22.73 billion and a PE ratio of 24.72.

Insider Activity

In related news, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently made changes to their positions in the business. Leigh Baldwin & CO. LLC acquired a new stake in Zoom Video Communications in the 4th quarter valued at $239,000. Mackenzie Financial Corp lifted its holdings in shares of Zoom Video Communications by 98.6% during the fourth quarter. Mackenzie Financial Corp now owns 70,955 shares of the company’s stock valued at $5,791,000 after acquiring an additional 35,230 shares during the period. Forum Financial Management LP acquired a new stake in shares of Zoom Video Communications in the 4th quarter valued at $345,000. Peak Retirement Planning Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth about $961,000. Finally, Toronto Dominion Bank increased its position in shares of Zoom Video Communications by 4.9% during the 4th quarter. Toronto Dominion Bank now owns 33,541 shares of the company’s stock worth $2,737,000 after purchasing an additional 1,576 shares in the last quarter. Institutional investors and hedge funds 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.