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

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was upgraded by research analysts at Needham & Company LLC from a "hold" rating to a "moderate buy" rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm currently has a $100.00 price objective on the stock. Needham & Company LLC's price objective points to a potential upside of 21.85% from the stock's current price.

A number of other research firms have also issued reports on ZM. Scotiabank raised their target price on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Morgan Stanley lowered their price target on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. UBS Group cut 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. Mizuho decreased their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $87.61.

Zoom Video Communications Stock Down 0.2%

ZM stock opened at $82.07 on Thursday. The company has a 50 day moving average of $75.92 and a two-hundred day moving average of $79.75. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company 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 business posted $1.35 EPS. Zoom Video Communications's quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. This trade represents a 8.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in ZM. Crossmark Global Holdings Inc. lifted its position in Zoom Video Communications by 464.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 16,374 shares of the company's stock valued at $1,336,000 after acquiring an additional 13,471 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Zoom Video Communications by 6.0% in the 4th quarter. Atomi Financial Group Inc. now owns 6,677 shares of the company's stock valued at $545,000 after purchasing an additional 376 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $320,000. Dakota Wealth Management bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $849,000. Finally, Avior Wealth Management LLC boosted its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 265 shares during the period. 66.54% of the stock is 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.