Needham & Company LLC Reaffirms Hold Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Mizuho upped their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. Stifel Nicolaus upped their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a "hold" rating in a report on Tuesday, November 26th. Barclays raised their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications has an average rating of "Hold" and a consensus target price of $87.81.

Zoom Video Communications Price Performance

ZM traded down $0.44 on Friday, reaching $79.46. 2,750,285 shares of the stock were exchanged, compared to its average volume of 2,265,364. The company's 50-day moving average price is $82.96 and its 200 day moving average price is $70.91. The firm has a market capitalization of $24.35 billion, a PE ratio of 26.49, a PEG ratio of 5.29 and a beta of -0.01. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 381,383 shares of company stock valued at $29,586,681. Corporate insiders own 10.78% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZM. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Allworth Financial LP boosted its position in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock valued at $53,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC raised 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 buying an additional 164 shares during the period. Finally, True Wealth Design LLC lifted its stake in Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $83,000 after acquiring an additional 1,184 shares in the last quarter. 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.