Zoom Communications (NASDAQ:ZM) Stock Rating Upgraded by Zacks Research

Key Points

• Zoom Communications has received an upgrade from Zacks Research, moving from a "hold" rating to a "strong-buy" rating.
• The stock traded down 3.1% to $84.16, with a market capitalization of $25.46 billion and an average one-year price target of $91.30.
• Insider activity saw Director Jonathan Chadwick sell 25,000 shares, reducing their ownership by 80.97%, highlighting significant insider movements in the company.

Zacks Research upgraded shares of Zoom Communications (NASDAQ:ZM - Free Report) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on ZM. Wall Street Zen lowered shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Bank of America lifted their price target on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $110.00 price objective on shares of Zoom Communications in a report on Thursday. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Robert W. Baird lowered their price objective on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Two 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.30.

Zoom Communications Price Performance

ZM traded down $0.63 during trading on Thursday, reaching $83.53. The company had a trading volume of 2,759,852 shares, compared to its average volume of 2,849,278. Zoom Communications has a 12 month low of $64.41 and a 12 month high of $92.80. The business's fifty day moving average price is $77.53 and its 200 day moving average price is $76.99. The company has a market cap of $25.27 billion, a P/E ratio of 22.04, a PEG ratio of 11.73 and a beta of 0.57.

Insiders Place Their Bets

In related news, Director Herbert Raymond Mcmaster sold 2,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $83.00, for a total value of $166,000.00. Following the transaction, the director directly owned 7,901 shares in the company, valued at approximately $655,783. This represents a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 2,595 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $85.09, for a total transaction of $220,808.55. Following the completion of the transaction, the insider owned 130,242 shares in the company, valued at $11,082,291.78. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,400 shares of company stock worth $6,871,114 over the last three months. 11.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZM. Wayfinding Financial LLC bought a new position in Zoom Communications in the 1st quarter valued at approximately $25,000. SouthState Corp acquired a new stake in shares of Zoom Communications during the 1st quarter worth approximately $25,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Zoom Communications during the 2nd quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position 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 worth $28,000 after buying an additional 246 shares during the period. Finally, REAP Financial Group LLC grew its position in Zoom Communications by 181.7% in the 2nd quarter. REAP Financial Group LLC now owns 355 shares of the company's stock valued at $28,000 after purchasing an additional 229 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.