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

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

A number of other research analysts also recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Benchmark increased their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lowered their target price on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Bank of America reduced their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $75.05.

Zoom Video Communications Stock Performance

Shares of ZM opened at $70.85 on Friday. The firm’s 50 day moving average price is $65.14 and its two-hundred day moving average price is $62.42. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $74.77. The firm has a market cap of $21.81 billion, a P/E ratio of 25.39, a PEG ratio of 6.03 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. On average, sell-side analysts anticipate that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 37,206 shares of Zoom Video Communications stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Eric S. Yuan sold 37,206 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total transaction of $2,537,449.20. Following the completion of the sale, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at $7,798,056.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 831 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,483 shares of company stock worth $8,442,442 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Several institutional investors have recently made changes to their positions in ZM. Vanguard Group Inc. grew its holdings in shares of Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Zoom Video Communications by 9.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after purchasing an additional 38,924 shares during the period. Banque Cantonale Vaudoise raised its stake in shares of Zoom Video Communications by 255.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock worth $235,000 after purchasing an additional 2,584 shares during the period. Andra AP fonden boosted its holdings in shares of Zoom Video Communications by 78.0% in the 2nd quarter. Andra AP fonden now owns 238,700 shares of the company’s stock worth $14,129,000 after buying an additional 104,600 shares during the last quarter. Finally, Swedbank AB bought a new stake in Zoom Video Communications in the first quarter worth about $2,100,000. 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.