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 equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports.

ZM has been the topic of a number of other research reports. Piper Sandler lifted their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Barclays raised their price target on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.81.

Zoom Video Communications Price Performance

Shares of ZM opened at $79.90 on Friday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a 50 day simple moving average of $82.88 and a two-hundred day simple moving average of $70.76. The firm has a market cap of $24.49 billion, a P/E ratio of 26.63, a P/E/G ratio of 5.29 and a beta of -0.01.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 10,520 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $68.59, for a total transaction of $721,566.80. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $135,671.02. The trade was a 84.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 338,315 shares of company stock valued at $26,197,660. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp lifted its position in Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares during the last quarter. AQR Capital Management LLC lifted its position in Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

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.