Brokerages Set Zoom Communications, Inc. (NASDAQ:ZM) Price Target at $90.30

Key Points

• Brokerages have given Zoom Communications, Inc. (NASDAQ:ZM) an average recommendation of "Hold," with a price target of $90.30 from analysts over the past year.
• Recent changes in ratings include a downgrade from Zacks Research from "strong-buy" to "hold," while Citigroup raised their price target from $84.00 to $85.00.
• Insiders have sold a total of 93,017 shares of Zoom stock in the past three months, indicating a decrease in their holdings, with insiders now owning 11.51% of the company’s stock.

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) has been assigned an average rating of "Hold" from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $90.3043.

ZM has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Robert W. Baird lowered their target price on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Benchmark restated a "buy" rating and issued a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. Bank of America increased their target price on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd.

Zoom Communications Stock Performance

Shares of Zoom Communications stock traded up $0.59 on Friday, hitting $81.42. 3,180,268 shares of the company traded hands, compared to its average volume of 3,902,749. The business has a 50-day simple moving average of $75.37 and a 200 day simple moving average of $76.48. Zoom Communications has a 52 week low of $64.41 and a 52 week high of $92.80. The stock has a market capitalization of $24.63 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 12.50 and a beta of 0.68.

Insider Buying and Selling

In other Zoom Communications news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $79.65, for a total value of $197,133.75. Following the transaction, the director directly owned 157,594 shares in the company, valued at approximately $12,552,362.10. This trade represents a 1.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction that occurred 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. In the last 90 days, insiders sold 93,017 shares of company stock worth $7,052,757. Insiders own 11.51% of the company's stock.

Institutional Trading of Zoom Communications

A number of hedge funds and other institutional investors have recently modified their holdings of ZM. Norges Bank acquired a new position in Zoom Communications during the second quarter worth $539,998,000. Acadian Asset Management LLC grew its position in shares of Zoom Communications by 41.1% during the second quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company's stock worth $293,909,000 after acquiring an additional 1,097,333 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Zoom Communications by 63.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,137,093 shares of the company's stock valued at $166,651,000 after acquiring an additional 830,393 shares during the period. Victory Capital Management Inc. increased its position in Zoom Communications by 119.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock worth $103,670,000 after purchasing an additional 765,092 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after buying an additional 624,863 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom 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.