William Blair Reaffirms Outperform Rating for Zoom Communications (NASDAQ:ZM)

Zoom Communications (NASDAQ:ZM)‘s stock had its “outperform” rating reiterated by research analysts at William Blair in a research note issued to investors on Tuesday,RTT News reports.

A number of other research analysts also recently issued reports on the company. Wall Street Zen upgraded Zoom Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Communications in a research note on Thursday, September 18th. Piper Sandler reissued a “neutral” rating and set a $85.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Finally, Benchmark raised their price objective on Zoom Communications from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.30.

Zoom Communications Stock Performance

Shares of NASDAQ:ZM traded down $1.30 on Tuesday, hitting $82.30. 266,200 shares of the company’s stock were exchanged, compared to its average volume of 2,820,434. The firm’s 50-day moving average is $78.60 and its 200 day moving average is $77.39. The company has a market capitalization of $24.90 billion, a PE ratio of 21.76, a P/E/G ratio of 11.67 and a beta of 0.57. Zoom Communications has a 1-year low of $64.41 and a 1-year high of $92.80.

Insider Activity

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 2,000 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $83.00, for a total transaction of $166,000.00. Following the completion of the sale, the director owned 7,901 shares of the company’s stock, valued at approximately $655,783. The trade was a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total value of $1,871,500.00. Following the completion of the sale, the director directly owned 5,875 shares of the company’s stock, valued at $439,802.50. The trade was a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,400 shares of company stock valued at $6,871,114 in the last 90 days. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in shares of Zoom Communications during the first quarter valued at approximately $25,000. SouthState Corp bought a new position in shares of Zoom Communications during the first quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC bought a new position in shares of Zoom Communications during the second quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Zoom Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 246 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in shares of Zoom Communications by 181.7% during the second quarter. REAP Financial Group LLC now owns 355 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds 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.