Zoom Communications, Inc. (NASDAQ:ZM) Stock Has Average Price Target of $114.48

Zoom Communications, Inc. (NASDAQ:ZM) has been given an average recommendation of “Moderate Buy” by the twenty-seven research firms that are currently covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $114.48.

A number of analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Zoom Communications in a research report on Wednesday, October 21st. BTIG Research reissued a “buy” rating and issued a $125.00 price objective on shares of Zoom Communications in a research note on Wednesday, October 21st. Morgan Stanley upped their target price on Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 26th. Finally, Oppenheimer raised Zoom Communications from a “market perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Wednesday, October 21st.

Zoom Communications Stock Down 2.2%

Shares of Zoom Communications stock opened at $95.50 on Wednesday. The stock has a market cap of $27.86 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 4.36 and a beta of 1.03. Zoom Communications has a twelve month low of $70.70 and a twelve month high of $114.74. The company’s fifty day moving average is $95.56 and its 200 day moving average is $91.90.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. 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. As a group, equities analysts anticipate that Zoom Communications will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Zoom Communications

In other news, Director Santiago Subotovsky sold 1,442 shares of the firm’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $100.14, for a total value of $144,401.88. Following the transaction, the director owned 116,512 shares in the company, valued at $11,667,511.68. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 10,156 shares of Zoom Communications stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $101.93, for a total transaction of $1,035,201.08. Following the transaction, the chief financial officer directly owned 30,282 shares in the company, valued at $3,086,644.26. This represents a 25.11% 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. In the last ninety days, insiders have sold 88,856 shares of company stock valued at $8,725,094. Company insiders own 8.83% of the company’s stock.

Institutional Investors Weigh In On Zoom Communications

Hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Zoom Communications by 133.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Rexford Capital Inc. raised its holdings in shares of Zoom Communications by 45.7% during the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after buying an additional 122 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of Zoom Communications during the 3rd quarter valued at about $43,000. Elevation Wealth Partners LLC raised its holdings in shares of Zoom Communications by 133.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 477 shares of the company’s stock valued at $43,000 after buying an additional 273 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its position in Zoom Communications by 400.0% in the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 500 shares of the company’s stock worth $43,000 after buying an additional 400 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

About Zoom Communications

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.