Needham Issues a Buy Rating on Zoom Video Communications (ZM)
Needham analyst Richard Valera assigned a Buy rating to Zoom Video Communications (ZM) today and set a price target of $540.00. The company’s shares closed last Monday at $478.36.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 17.7% and a 66.4% success rate. Valera covers the Technology sector, focusing on stocks such as Trimble Navigation, Altair Engineering, and Vonage Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zoom Video Communications with a $486.33 average price target, which is a 0.1% upside from current levels. In a report issued on November 23, RBC Capital also maintained a Buy rating on the stock with a $600.00 price target.
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Zoom Video Communications’ market cap is currently $126.2B and has a P/E ratio of 597.00. The company has a Price to Book ratio of 114.87.
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Zoom Video Communications, Inc. engages in the provision of video-first communications platform. It connects people through frictionless video, voice, chat and content sharing, and enable face-to-face video experiences for thousands of people in a single meeting across disparate devices and locations. It focuses on customer and employee happiness, a video-first cloud architecture, recognized market leadership, viral demand, an efficient go-to-market strategy, and robust customer support. The company was founded by Eric S. Yuan in 2011 and is headquartered in San Jose, CA.