Zoom Communications (NASDAQ:ZM) Upgraded 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 report sent to investors on Saturday morning.

Several other analysts also recently commented on ZM. Scotiabank increased their price objective on shares of Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Morgan Stanley upped their price objective on Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Finally, Benchmark reaffirmed a "buy" rating and set a $97.00 price target on shares of Zoom Communications in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Communications currently has a consensus rating of "Hold" and an average target price of $87.00.

Zoom Communications Price Performance

NASDAQ:ZM traded down $1.41 during mid-day trading on Friday, hitting $77.17. 3,406,717 shares of the company's stock were exchanged, compared to its average volume of 2,907,995. The company has a market cap of $23.35 billion, a PE ratio of 23.17, a P/E/G ratio of 12.87 and a beta of 0.68. Zoom Communications has a one year low of $55.06 and a one year high of $92.80. The business has a fifty day moving average price of $79.40 and a 200 day moving average price of $78.63.

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

Insider Buying and Selling at Zoom Communications

In other news, CEO Eric S. Yuan sold 41,121 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the 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 sale, the chief operating officer owned 1,978 shares of the company's stock, valued at $143,583.02. This represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,196 shares of company stock valued at $6,885,843. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications in the 1st quarter worth $25,000. SouthState Corp bought a new position in Zoom Communications in the 1st quarter worth about $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Zoom Communications by 177.0% in 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. Raiffeisen Bank International AG bought a new position in shares of Zoom Communications during the 4th quarter worth $30,000. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Zoom Communications during the first quarter valued at $31,000. 66.54% of the stock is owned by hedge funds and other 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.