Needham & Company LLC Reiterates “Hold” Rating for Zoom Video Communications (NASDAQ:ZM)

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

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a hold rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a hold rating in a report on Friday, August 23rd. Morgan Stanley cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an equal weight rating on the stock in a report on Friday, June 14th. Piper Sandler cut their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Finally, UBS Group upgraded shares of Zoom Video Communications to a hold rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $75.05.

Zoom Video Communications Price Performance

ZM stock opened at $67.89 on Friday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $74.77. The company has a market cap of $21.00 billion, a P/E ratio of 25.33, a PEG ratio of 6.11 and a beta of -0.04. The firm has a 50-day moving average of $65.86 and a 200 day moving average of $62.47.

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, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. Zoom Video Communications’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet Napolitano sold 4,477 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $69.39, for a total transaction of $310,659.03. Following the transaction, the director now directly owns 2,984 shares of the company’s stock, valued at approximately $207,059.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,074 shares of company stock valued at $9,595,146 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in Zoom Video Communications in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications in the 2nd quarter valued at about $41,000. Versant Capital Management Inc raised its holdings in shares of Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Zoom Video Communications by 69.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after purchasing an additional 692 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.