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

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

A number of other equities analysts have also recently commented on ZM. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, 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 research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.81.

Zoom Video Communications Stock Down 0.7 %

Shares of ZM opened at $79.90 on Friday. The business has a fifty day moving average of $82.88 and a 200 day moving average of $70.76. The company has a market cap of $24.49 billion, a PE ratio of 26.63, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,315 shares of company stock valued at $26,197,660 over the last 90 days. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. increased its holdings in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the period. MML Investors Services LLC increased its holdings in Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after acquiring an additional 164 shares during the last quarter. Hedge funds and other 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.