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

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

A number of equities analysts recently issued reports on the company. Citigroup lowered their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Rosenblatt Securities raised their price target on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company raised their price target on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Wall Street Zen raised Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th.

Zoom Communications Price Performance

Shares of ZM traded down $1.65 during midday trading on Thursday, reaching $73.40. 4,071,362 shares of the stock were exchanged, compared to its average volume of 2,904,253. The business's 50-day moving average price is $79.26 and its 200 day moving average price is $78.41. Zoom Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 12.02 and a beta of 0.68.

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 analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $1.35 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Zoom Communications will post 2.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jonathan Chadwick sold 12,500 shares of Zoom Communications stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the transaction, the director directly owned 1,514 shares of the company's stock, valued at approximately $109,870.98. The trade was a 89.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction on Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director directly owned 4,728 shares of the company's stock, valued at approximately $363,015.84. This represents a 35.63% decrease in their ownership of the stock. 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 90 days. Insiders own 11.51% of the company's stock.

Hedge Funds Weigh In On Zoom Communications

Hedge funds have recently bought and sold shares of the stock. Yousif Capital Management LLC increased its position in Zoom Communications by 31.9% during the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock worth $328,000 after buying an additional 1,076 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Zoom Communications by 15.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after purchasing an additional 1,601 shares during the period. Spire Wealth Management grew its position in shares of Zoom Communications by 990.6% in the first quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after purchasing an additional 1,268 shares during the period. New York State Teachers Retirement System grew its position in shares of Zoom Communications by 0.7% in the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock valued at $1,792,000 after purchasing an additional 171 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Zoom Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

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.