Zoom Communications (NASDAQ:ZM) Given Outperform Rating at Royal Bank Of Canada

Key Points

• Zoom Communications received an "outperform" rating from the Royal Bank of Canada, with a price target of $100.00, indicating a potential upside of 15.58% from its previous close.
• Several other analysts have also reaffirmed ratings on Zoom, with a consensus rating of "Hold" and a target price of $90.87, reflecting mixed investor sentiment.
• Director Jonathan Chadwick recently sold 25,000 shares of Zoom, representing an 80.97% decrease in his ownership, amid a larger trend of insider selling in the last ninety days.

Zoom Communications (NASDAQ:ZM - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Royal Bank Of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $100.00 target price on the stock. Royal Bank Of Canada's price target points to a potential upside of 18.37% from the stock's previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Dbs Bank upgraded shares of Zoom Communications to a "moderate buy" rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Benchmark raised their target price on shares of Zoom Communications from $102.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Bank of America increased their price objective on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.30.

Zoom Communications Stock Performance

Zoom Communications stock traded up $0.32 during mid-day trading on Thursday, hitting $84.48. 1,181,560 shares of the company traded hands, compared to its average volume of 2,839,973. The stock has a market cap of $25.56 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 11.73 and a beta of 0.57. Zoom Communications has a one year low of $64.41 and a one year high of $92.80. The stock has a fifty day moving average price of $77.53 and a 200-day moving average price of $76.99.

Insider Buying and Selling at Zoom Communications

In related news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the sale, the director owned 5,875 shares of the company's stock, valued at $439,802.50. This represents a 80.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $83.40, for a total value of $206,415.00. Following the completion of the transaction, the director directly owned 155,119 shares of the company's stock, valued at approximately $12,936,924.60. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,400 shares of company stock valued at $6,871,114 over the last quarter. 11.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. Norges Bank bought a new stake in Zoom Communications during the 2nd quarter valued at $539,998,000. Acadian Asset Management LLC increased 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 valued at $293,909,000 after acquiring an additional 1,097,333 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted 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 worth $166,651,000 after purchasing an additional 830,393 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 765,092 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Zoom Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. Institutional investors own 66.54% of the company's stock.

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.