Zoom Video Communications (NASDAQ:ZM) Receives Hold Rating from Needham & Company LLC

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

Several other equities research analysts also recently weighed in on the company. Morgan Stanley upped their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. UBS Group boosted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.81.

Zoom Video Communications Stock Down 0.6 %

NASDAQ:ZM opened at $79.46 on Friday. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a fifty day simple moving average of $82.96 and a two-hundred day simple moving average of $70.91. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 5.29 and a beta of -0.01.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $68.36, for a total value of $854,500.00. Following the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $103,497.04. This trade represents a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 381,383 shares of company stock worth $29,586,681. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the last quarter. FMR LLC raised its stake in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $62,038,000. Finally, Nordea Investment Management AB grew its stake in Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares during the last quarter. 66.54% of the stock is currently 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.