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

Wall Street Zen upgraded shares of Zoom Communications (NASDAQ:ZM) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

A number of other equities analysts have also recently issued reports on ZM. Needham & Company LLC upgraded Zoom Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 price objective for the company in a report on Thursday, May 22nd. Bank of America upped their price objective on Zoom Communications from $79.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. William Blair reiterated an “outperform” rating on shares of Zoom Communications in a report on Thursday, May 22nd. Piper Sandler upped their price objective on Zoom Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.00.

Zoom Communications Trading Up 0.7%

ZM opened at $78.12 on Friday. The stock has a 50-day moving average price of $79.38 and a 200-day moving average price of $78.73. Zoom Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market capitalization of $23.64 billion, a P/E ratio of 23.46, a PEG ratio of 12.87 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $1.35 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Zoom Communications will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the transaction, the director owned 1,514 shares of the company’s stock, valued at $109,870.98. This represents a 89.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider directly owned 125,529 shares of the company’s stock, valued at $9,026,790.39. The trade was a 8.62% 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 over the last three months. 11.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. SouthState Corp purchased a new position in shares of Zoom Communications during the 1st quarter worth approximately $25,000. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications during the 1st quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new position in shares of Zoom Communications during the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 period. Finally, Colonial Trust Co SC purchased a new position in shares of Zoom Communications during the 4th quarter worth approximately $32,000. Institutional investors own 66.54% of the company’s stock.

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.