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

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

A number of other equities research analysts have also recently issued reports on the stock. Barclays upped their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Bank of America lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Cantor Fitzgerald began coverage on shares of Zoom Video Communications in a research report on Friday, January 17th. They set a “neutral” rating and a $87.00 target price on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Down 1.7 %

Shares of NASDAQ:ZM opened at $72.88 on Tuesday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a fifty day moving average of $82.54 and a two-hundred day moving average of $76.63. The firm has a market capitalization of $22.34 billion and a P/E ratio of 24.29.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 over the last ninety days. 10.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Baker Avenue Asset Management LP lifted its position in Zoom Video Communications by 82.1% during the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter worth $1,072,000. Robeco Institutional Asset Management B.V. grew its position in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Zoom Video Communications in the third quarter valued at $62,038,000. 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.