Wall Street Zen Upgrades Zoom Communications (NASDAQ:ZM) to "Strong-Buy"

Key Points

• Zoom Communications has received an upgrade from Wall Street Zen, moving from a "buy" rating to a "strong-buy" rating, indicating increased confidence among analysts in the stock's performance.
• Mizuho has raised its price target for Zoom shares from $95.00 to $100.00, showing optimism in the company's growth prospects, while other analysts maintain varied ratings and target prices.
• Insider selling activity includes significant transactions by CEO Eric S. Yuan, who sold shares valued at over $2.5 million, and a notable decrease in ownership by Director Santiago Subotovsky.

Zoom Communications (NASDAQ:ZM - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

ZM has been the topic of a number of other research reports. Mizuho increased their price target on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Wedbush reiterated an "outperform" rating and issued a $95.00 price target on shares of Zoom Communications in a research note on Friday, August 22nd. Stifel Nicolaus lowered their target price on Zoom Communications from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, August 22nd. Benchmark reissued a "buy" rating and issued a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. Finally, Needham & Company LLC restated a "buy" rating and issued a $100.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Zoom Communications currently has an average rating of "Hold" and a consensus target price of $90.30.

Zoom Communications Trading Up 0.7%

NASDAQ:ZM traded up $0.59 on Friday, hitting $81.42. The company's stock had a trading volume of 3,180,268 shares, compared to its average volume of 3,893,801. The stock has a fifty day moving average of $75.37 and a two-hundred day moving average of $76.42. The firm has a market capitalization of $24.63 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 11.46 and a beta of 0.57. Zoom Communications has a one year low of $64.41 and a one year high of $92.80.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Herbert Raymond Mcmaster sold 2,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $83.00, for a total value of $166,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 93,017 shares of company stock valued at $7,052,757 in the last ninety days. 10.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZM. SouthState Corp bought a new stake in shares of Zoom Communications in the 1st quarter worth approximately $25,000. Elevation Point Wealth Partners LLC bought a new stake in Zoom Communications during the 2nd quarter valued at approximately $27,000. Wayfinding Financial LLC bought a new stake in Zoom Communications during the 1st quarter valued at approximately $25,000. REAP Financial Group LLC boosted its position in Zoom Communications by 181.7% during the 2nd quarter. REAP Financial Group LLC now owns 355 shares of the company's stock valued at $28,000 after acquiring an additional 229 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Zoom Communications during the 4th quarter valued at approximately $30,000. 66.54% of the stock is owned by institutional investors.

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.