Zoom Communications, Inc. (NASDAQ:ZM) Receives Average Rating of "Hold" from Analysts

Shares of Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-six analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $87.00.

ZM has been the topic of several analyst reports. Morgan Stanley lifted their target price on Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Bank of America boosted their target price on Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a research note on Thursday, May 22nd. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Piper Sandler increased their price target on Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd.

Insider Activity

In related news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $77.17, for a total value of $190,995.75. Following the completion of the sale, the director owned 157,235 shares in the company, valued at approximately $12,133,824.95. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the sale, the director owned 1,514 shares of the company's stock, valued at approximately $109,870.98. This trade represents a 89.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,671 shares of company stock valued at $7,076,838 over the last quarter. Corporate insiders own 11.51% of the company's stock.

Institutional Trading of Zoom Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Zoom Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after buying an additional 624,863 shares during the last quarter. FMR LLC increased its stake in Zoom Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank acquired a new position in shares of Zoom Communications in the fourth quarter valued at approximately $751,908,000. AQR Capital Management LLC boosted its holdings in shares of Zoom Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after buying an additional 373,509 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Zoom Communications by 0.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock worth $473,732,000 after purchasing an additional 36,210 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Trading Down 0.1%

Zoom Communications stock opened at $77.38 on Thursday. The firm has a 50-day moving average of $79.40 and a 200-day moving average of $78.61. The firm has a market cap of $23.41 billion, a P/E ratio of 23.24, a P/E/G ratio of 12.68 and a beta of 0.68. Zoom Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $1.35 EPS. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts forecast that Zoom Communications will post 2.93 earnings per share for the current fiscal year.

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.

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