Zoom Communications (NASDAQ:ZM) Raised to Moderate Buy at Dbs Bank

Key Points

• Zoom Communications has received a "moderate buy" rating from Dbs Bank, indicating analysts expect positive growth for the company.
• Several research firms have raised their target prices for Zoom, with Royal Bank of Canada increasing their projection from $95 to $100.
• Insiders have recently sold shares of Zoom Communications, with insider Velchamy Sankarlingam selling 2,595 shares for over $220,000.

Zoom Communications (NASDAQ:ZM - Get Free Report) was upgraded by analysts at Dbs Bank to a "moderate buy" rating in a report released on Tuesday,Zacks.com reports.

ZM has been the topic of several other research reports. Mizuho boosted their target price on Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded Zoom Communications from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Wells Fargo & Company boosted their price objective on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Citigroup boosted their price objective on Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Finally, Royal Bank Of Canada boosted their price objective on Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $91.30.

Zoom Communications Trading Up 0.6%

Shares of NASDAQ ZM traded up $0.53 during trading hours on Tuesday, hitting $86.83. 3,431,016 shares of the company traded hands, compared to its average volume of 4,088,535. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 12.03 and a beta of 0.57. The company's 50 day moving average price is $77.32 and its 200 day moving average price is $76.90. Zoom Communications has a 12 month low of $64.41 and a 12 month high of $92.80.

Insiders Place Their Bets

In other Zoom Communications news, insider Velchamy Sankarlingam sold 2,595 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $85.09, for a total value of $220,808.55. Following the completion of the sale, the insider directly owned 130,242 shares in the company, valued at approximately $11,082,291.78. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the company's 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 90,400 shares of company stock worth $6,871,114. 11.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zoom Communications

A number of hedge funds have recently made changes to their positions in ZM. Wayfinding Financial LLC acquired a new position in Zoom Communications during the 1st quarter valued at about $25,000. SouthState Corp purchased a new stake in Zoom Communications in the first quarter valued at about $25,000. Elevation Point Wealth Partners LLC purchased a new stake in Zoom Communications in the second quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in Zoom Communications by 181.7% in the second quarter. REAP Financial Group LLC now owns 355 shares of the company's stock valued at $28,000 after buying an additional 229 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.