Zoom Video Communications (NASDAQ:ZM) Raised to Moderate Buy at Needham & Company LLC

Zoom Video Communications (NASDAQ:ZM) was upgraded by research analysts at Needham & Company LLC from a “hold” rating to a “moderate buy” rating in a research note issued on Thursday, Marketbeat reports. The firm presently has a $100.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 26.14% from the stock’s current price.

Several other brokerages also recently weighed in on ZM. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. UBS Group reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Barclays reduced their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Citigroup reduced their price objective on Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, May 15th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.61.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $79.28 on Thursday. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 5.48 and a beta of 0.79. The business’s 50-day simple moving average is $76.00 and its 200-day simple moving average is $79.76. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Zoom Video Communications will post 2.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares of the company’s stock, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock worth $12,132,994 over the last three months. Insiders own 11.51% of the company’s stock.

Institutional Trading of Zoom Video Communications

Large investors have recently bought and sold shares of the business. SouthState Corp bought a new position in Zoom Video Communications in the 1st quarter valued at about $25,000. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Zoom Video Communications during the 1st quarter worth approximately $25,000. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after buying an additional 258 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.