Zoom Communications (NASDAQ:ZM) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Zoom Communications (NASDAQ:ZM) from a buy rating to a strong-buy rating in a research report report published on Sunday.

Several other research analysts have also recently weighed in on ZM. Benchmark lifted their price target on Zoom Communications from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Communications in a report on Thursday, September 18th. Citigroup increased their price target on shares of Zoom Communications from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Zoom Communications in a report on Thursday, September 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Zoom Communications in a research report on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zoom Communications has an average rating of “Moderate Buy” and an average price target of $91.74.

Zoom Communications Stock Performance

Shares of ZM opened at $82.50 on Friday. The business’s 50-day moving average is $78.74 and its two-hundred day moving average is $77.43. The company has a market capitalization of $24.96 billion, a P/E ratio of 21.77, a P/E/G ratio of 11.54 and a beta of 0.57. Zoom Communications has a fifty-two week low of $64.41 and a fifty-two week high of $92.80.

Insider Buying and Selling at Zoom Communications

In related news, 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 completion of the transaction, the director owned 7,901 shares in the company, valued at $655,783. This represents a 20.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total transaction of $2,519,749.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,925 shares of company stock valued at $6,680,119. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZM. SouthState Corp acquired a new stake in Zoom Communications during the 1st quarter worth $25,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Zoom Communications in the second quarter worth about $27,000. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications in the first quarter worth about $25,000. REAP Financial Group LLC boosted its position in Zoom Communications by 181.7% during the second quarter. REAP Financial Group LLC now owns 355 shares of the company’s stock worth $28,000 after acquiring an additional 229 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.