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

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

Other equities research analysts have also issued research reports about the stock. Bank of America dropped their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a neutral rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an underweight rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a buy rating and issued a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, October 4th. Benchmark raised their price target on Zoom Video Communications from $83.00 to $85.00 and gave the company a buy rating in a report on Thursday. Finally, Piper Sandler reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $75.05.

Zoom Video Communications Stock Down 0.2 %

Shares of NASDAQ ZM opened at $70.68 on Friday. The stock’s 50 day moving average price is $65.62 and its two-hundred day moving average price is $62.45. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $74.77. The stock has a market capitalization of $21.86 billion, a P/E ratio of 26.37, a PEG ratio of 6.11 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Zoom Video Communications will post 2.74 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. 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 hyperlink. In related news, CEO Eric S. Yuan sold 37,206 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total value of $2,537,449.20. Following the transaction, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. The trade was a 0.00 % decrease in their position. 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.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors have recently made changes to their positions in ZM. Axiom Advisory LLC boosted its holdings in Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock valued at $817,000 after purchasing an additional 183 shares during the period. Baader Bank Aktiengesellschaft raised its position in shares of Zoom Video Communications by 0.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after buying an additional 189 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Zoom Video Communications by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares during the period. Excalibur Management Corp grew its position in Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after buying an additional 232 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Zoom Video Communications by 2.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock valued at $669,000 after acquiring an additional 273 shares during the period. 66.54% of the stock is currently owned by 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.