Zoom Communications, Inc. (NASDAQ:ZM) Given Consensus Recommendation of “Hold” by Analysts

Shares of Zoom Communications, Inc. (NASDAQ:ZM) have received an average recommendation of “Hold” from the twenty-seven research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $90.3043.

ZM has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Zoom Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 16th. Robert W. Baird lowered their price target on shares of Zoom Communications from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 22nd. Zacks Research lowered shares of Zoom Communications from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Stifel Nicolaus lowered their price target on shares of Zoom Communications from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd.

Insiders Place Their Bets

In related news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the transaction, the director owned 5,875 shares in the company, valued at $439,802.50. This represents a 80.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert Raymond Mcmaster sold 2,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $83.00, for a total transaction of $166,000.00. Following the transaction, the director owned 7,901 shares in the company, valued at approximately $655,783. The trade was a 20.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,542 shares of company stock worth $6,853,099 in the last quarter. 11.51% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wayfinding Financial LLC bought a new position in Zoom Communications during the first quarter worth $25,000. SouthState Corp acquired a new position in Zoom Communications in the first quarter valued at about $25,000. Elevation Point Wealth Partners LLC acquired a new position in Zoom Communications during the second quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after buying an additional 246 shares during the last quarter. Finally, REAP Financial Group LLC boosted its position in Zoom Communications by 181.7% during the 2nd quarter. REAP Financial Group LLC now owns 355 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $82.79 on Friday. The firm has a market capitalization of $25.05 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 11.75 and a beta of 0.57. The company’s fifty day moving average price is $75.82 and its two-hundred day moving average price is $76.47. Zoom Communications has a 52-week low of $64.41 and a 52-week high of $92.80.

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.