Zoom Communications, Inc. (NASDAQ:ZM) Receives $87.00 Consensus Target Price from Analysts

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $87.00.

Several equities research analysts recently commented on the company. Citigroup dropped their target price on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. KeyCorp started coverage on shares of Zoom Communications in a research report on Friday, June 6th. They issued an "underweight" rating and a $73.00 price target on the stock. William Blair restated an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th.

Insider Activity

In other Zoom Communications news, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.57, for a total value of $907,125.00. Following the completion of the sale, the director owned 1,514 shares in the company, valued at $109,870.98. This represents a 89.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $72.18, for a total transaction of $2,968,113.78. The disclosure for this sale can be found here. Insiders sold a total of 104,332 shares of company stock valued at $7,670,566 in the last three months. 11.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Wayfinding Financial LLC acquired a new position in Zoom Communications during the first quarter worth $25,000. SouthState Corp bought a new stake in shares of Zoom Communications during the 1st quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Communications during the 4th quarter valued at about $30,000. Finally, GKV Capital Management Co. Inc. bought a new position in shares of Zoom Communications in the 1st quarter valued at approximately $31,000. Institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

ZM stock traded down $1.65 on Thursday, reaching $73.40. The company's stock had a trading volume of 4,071,362 shares, compared to its average volume of 2,906,388. Zoom Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market capitalization of $22.21 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 12.29 and a beta of 0.68. The firm has a fifty day moving average of $79.26 and a two-hundred day moving average of $78.46.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the business posted $1.35 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Zoom Communications will post 2.93 EPS for the current fiscal year.

About Zoom 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.