Zoom Communications (NASDAQ:ZM) Earns Outperform Rating from Wedbush

Zoom Communications (NASDAQ:ZM)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They presently have a $95.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 29.83% from the company’s previous close.

ZM has been the topic of several other reports. Rosenblatt Securities lifted their target price on Zoom Communications from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Zacks Research cut shares of Zoom Communications from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC upgraded shares of Zoom Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 target price on the stock in a research note on Thursday, May 22nd. Citigroup lowered their target price on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, May 15th. Finally, JMP Securities restated a “market perform” rating on shares of Zoom Communications in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.30.

Zoom Communications Stock Performance

NASDAQ ZM opened at $73.17 on Friday. The company has a market capitalization of $22.14 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 18.89 and a beta of 0.68. The business’s fifty day moving average is $74.96 and its 200 day moving average is $76.73. Zoom Communications has a fifty-two week low of $60.71 and a fifty-two week high of $92.80.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%.Zoom Communications’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 earnings per share. On average, sell-side analysts forecast that Zoom Communications will post 2.93 EPS for the current year.

Insider Buying and Selling

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of Zoom Communications stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the sale, the insider directly owned 129,377 shares in the company, valued at approximately $10,026,717.50. The trade was a 5.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 10,528 shares of Zoom Communications stock in a transaction on Monday, July 14th. The shares were sold at an average price of $74.78, for a total transaction of $787,283.84. Following the completion of the sale, the chief operating officer owned 1,978 shares in the company, valued at approximately $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,542 shares of company stock worth $6,609,623 in the last 90 days. 11.51% of the stock is owned by company insiders.

Institutional Trading of Zoom Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marex Group plc bought a new stake in Zoom Communications in the 2nd quarter valued at $1,034,000. MRP Capital Investments LLC increased its holdings in Zoom Communications by 114.5% in the 2nd quarter. MRP Capital Investments LLC now owns 3,250 shares of the company’s stock valued at $253,000 after acquiring an additional 1,735 shares during the last quarter. State of Wyoming increased its holdings in Zoom Communications by 8.4% in the 2nd quarter. State of Wyoming now owns 8,036 shares of the company’s stock valued at $627,000 after acquiring an additional 623 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Zoom Communications in the 2nd quarter worth about $551,000. Finally, Kestra Investment Management LLC increased its holdings in shares of Zoom Communications by 122,628.6% in the 2nd quarter. Kestra Investment Management LLC now owns 8,591 shares of the company’s stock worth $670,000 after buying an additional 8,584 shares during the last quarter. 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.