Zoom Communications (NASDAQ:ZM) Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Zoom Communications (NASDAQ:ZM - Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

A number of other research analysts have also recently commented on ZM. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price target on shares of Zoom Communications in a research report on Thursday, May 22nd. Scotiabank upped their price target on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday, May 16th. Citigroup dropped their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Mizuho dropped their price target on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Stock Up 0.7%

ZM stock traded up $0.53 during midday trading on Friday, hitting $78.12. The company's stock had a trading volume of 2,889,396 shares, compared to its average volume of 2,905,992. The stock's 50-day moving average price is $79.38 and its 200 day moving average price is $78.73. Zoom Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market cap of $23.64 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 12.87 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Zoom Communications will post 2.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zoom Communications news, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer directly owned 1,978 shares in the company, valued at $143,583.02. This represents a 89.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.57, for a total value of $907,125.00. Following the transaction, the director owned 1,514 shares in the company, valued at $109,870.98. This trade represents a 89.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,196 shares of company stock worth $6,885,843. 10.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Communications

Several institutional investors and hedge funds have recently bought and sold shares of ZM. Wayfinding Financial LLC bought a new position in Zoom Communications during the 1st quarter worth approximately $25,000. SouthState Corp bought a new position in Zoom Communications during the 1st quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB grew its position in 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 acquiring an additional 246 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Zoom Communications during the 4th quarter worth approximately $30,000. Finally, GKV Capital Management Co. Inc. bought a new position in Zoom Communications during the 1st quarter worth approximately $31,000. 66.54% of the stock is currently owned by 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.