Zoom Communications (NASDAQ:ZM) Stock Rating Upgraded by 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.

A number of other equities research analysts have also recently issued reports on ZM. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research note on Thursday, May 22nd. Piper Sandler raised their target price on Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Citigroup lowered their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Mizuho lowered their price target on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target on the stock in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Stock Up 0.7%

ZM stock traded up $0.53 during mid-day trading on Friday, reaching $78.12. The company had a trading volume of 2,889,396 shares, compared to its average volume of 2,902,201. The stock has a market capitalization of $23.64 billion, a P/E ratio of 23.46, 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 stock's 50-day simple moving average is $79.38 and its two-hundred day simple moving average is $78.75.

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

Insider Transactions at Zoom Communications

In related news, Director Jonathan Chadwick sold 12,500 shares of Zoom Communications stock in a transaction dated Tuesday, April 15th. The stock was 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 of the company's stock, valued at approximately $109,870.98. This trade represents a 89.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director directly owned 4,728 shares in the company, valued at $363,015.84. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,196 shares of company stock worth $6,885,843 in the last three months. Insiders own 11.51% of the company's stock.

Institutional Investors Weigh In On Zoom Communications

A number of institutional investors have recently bought and sold shares of ZM. Proficio Capital Partners LLC acquired a new stake in Zoom Communications during the 4th quarter worth about $966,000. US Bancorp DE lifted its holdings in shares of Zoom Communications by 17.2% during the 4th quarter. US Bancorp DE now owns 3,495 shares of the company's stock valued at $285,000 after buying an additional 512 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Zoom Communications by 36.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,704 shares of the company's stock valued at $710,000 after buying an additional 2,307 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zoom Communications by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company's stock valued at $111,565,000 after buying an additional 69,612 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Zoom Communications by 3.3% during the 4th quarter. Victory Capital Management Inc. now owns 640,219 shares of the company's stock valued at $52,248,000 after buying an additional 20,735 shares during the last quarter. 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.