Zoom Communications (NASDAQ:ZM) Stock Keeps Buy Rating at Needham & Company LLC

Zoom Communications (NASDAQ:ZM)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $130.00 price objective on the stock. Needham & Company LLC‘s price objective points to a potential upside of 33.63% from the stock’s previous close.

ZM has been the topic of several other research reports. Yorkville Ives started coverage on shares of Zoom Communications in a research report on Tuesday, October 6th. They set an “outperform” rating and a $120.00 price target on the stock. BTIG Research restated a “buy” rating and set a $125.00 target price on shares of Zoom Communications in a research report on Wednesday, October 21st. Cantor Fitzgerald restated a “neutral” rating and set a $104.00 target price on shares of Zoom Communications in a research report on Wednesday, October 21st. Rosenblatt Securities restated a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a research report on Wednesday, October 21st. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $108.00 target price on shares of Zoom Communications in a research report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.48.

Zoom Communications Trading Up 1.6%

NASDAQ ZM traded up $1.52 on Thursday, hitting $97.29. 444,168 shares of the company were exchanged, compared to its average volume of 3,885,177. The firm has a 50 day moving average of $96.29 and a two-hundred day moving average of $95.19. The company has a market cap of $28.39 billion, a P/E ratio of 9.01, a P/E/G ratio of 4.25 and a beta of 1.03. Zoom Communications has a 1-year low of $70.70 and a 1-year high of $114.74.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 EPS. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. Research analysts anticipate that Zoom Communications will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Herbert Raymond Mcmaster sold 1,500 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $101.25, for a total transaction of $151,875.00. Following the completion of the sale, the director directly owned 6,979 shares of the company’s stock, valued at approximately $706,623.75. This represents a 17.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $99.26, for a total value of $758,842.70. Following the sale, the insider directly owned 151,813 shares of the company’s stock, valued at approximately $15,068,958.38. The trade was a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 87,414 shares of company stock worth $8,580,692 over the last ninety days. Company insiders own 8.83% of the company’s stock.

Institutional Trading of Zoom Communications

Large investors have recently bought and sold shares of the business. Signaturefd LLC grew its stake in shares of Zoom Communications by 16.1% during the 3rd quarter. Signaturefd LLC now owns 5,595 shares of the company’s stock worth $508,000 after acquiring an additional 775 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Zoom Communications by 8.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 3,022 shares of the company’s stock worth $274,000 after acquiring an additional 248 shares in the last quarter. XXI Wealth LLC grew its stake in shares of Zoom Communications by 57.3% during the 3rd quarter. XXI Wealth LLC now owns 4,180 shares of the company’s stock worth $379,000 after acquiring an additional 1,523 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Zoom Communications by 8.2% during the 3rd quarter. Yousif Capital Management LLC now owns 5,080 shares of the company’s stock worth $461,000 after acquiring an additional 384 shares in the last quarter. Finally, Brookstone Capital Management grew its stake in shares of Zoom Communications by 15.7% during the 3rd quarter. Brookstone Capital Management now owns 8,494 shares of the company’s stock worth $771,000 after acquiring an additional 1,150 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom Communications Company Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.