Zoom Communications (NASDAQ:ZM - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $110.00 price objective on the stock. Rosenblatt Securities' price target suggests a potential upside of 27.46% from the stock's current price.
A number of other research firms also recently issued reports on ZM. Citigroup boosted their price target on Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. boosted their price target on Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen raised Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a report on Friday, August 22nd. Finally, Stifel Nicolaus lowered their price target on Zoom Communications from $85.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Zoom Communications currently has a consensus rating of "Hold" and an average target price of $90.30.
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Zoom Communications Price Performance
Shares of NASDAQ:ZM opened at $86.30 on Thursday. Zoom Communications has a 1-year low of $64.41 and a 1-year high of $92.80. The business has a fifty day moving average price of $77.08 and a 200-day moving average price of $76.82. The company has a market capitalization of $26.11 billion, a PE ratio of 22.77, a PEG ratio of 11.87 and a beta of 0.57.
Insider Buying and Selling
In other Zoom Communications news, COO Aparna Bawa sold 10,528 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $147,914.84. This represents a 84.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Insiders have sold a total of 90,400 shares of company stock worth $6,871,114 over the last ninety days. 11.51% of the stock is owned by insiders.
Institutional Investors Weigh In On Zoom Communications
Hedge funds have recently made changes to their positions in the stock. SouthState Corp purchased a new stake in shares of Zoom Communications during the 1st quarter worth $25,000. Elevation Point Wealth Partners LLC purchased a new stake in Zoom Communications in the second quarter valued at about $27,000. Wayfinding Financial LLC purchased a new stake in Zoom Communications in the first quarter valued at about $25,000. REAP Financial Group LLC raised its stake in Zoom Communications by 181.7% in the second quarter. REAP Financial Group LLC now owns 355 shares of the company's stock valued at $28,000 after buying an additional 229 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
About Zoom Communications
(
Get Free Report)
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.
Further Reading
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