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

William Blair reaffirmed their outperform rating on shares of Zoom Communications (NASDAQ:ZM) in a research note issued to investors on Tuesday morning,RTT News reports.

Several other brokerages have also recently commented on ZM. Wedbush reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Communications in a research note on Friday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Communications in a research note on Thursday, September 18th. JMP Securities reiterated a “market perform” rating on shares of Zoom Communications in a research note on Thursday, September 18th. Wall Street Zen upgraded shares of Zoom Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Zoom Communications in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zoom Communications presently has an average rating of “Moderate Buy” and an average target price of $91.74.

Zoom Communications Stock Up 1.2%

Shares of NASDAQ ZM opened at $82.24 on Tuesday. Zoom Communications has a 52 week low of $64.41 and a 52 week high of $92.80. The firm has a 50-day moving average price of $78.98 and a 200 day moving average price of $77.50. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 11.22 and a beta of 0.78.

Insider Activity

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total transaction of $593,727.50. Following the completion of the transaction, the insider directly owned 129,377 shares in the company, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’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 of the company’s stock, valued at $439,802.50. This trade represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,925 shares of company stock worth $6,680,119 in the last three months. Company insiders own 11.51% of the company’s stock.

Institutional Trading of Zoom Communications

A number of hedge funds have recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Zoom Communications in the 1st quarter valued at $25,000. SouthState Corp purchased a new stake in shares of Zoom Communications in the first quarter valued at $25,000. Elevation Point Wealth Partners LLC acquired a new position in Zoom Communications in the second quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its stake in Zoom Communications by 177.0% in 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 increased its stake in Zoom Communications by 181.7% in 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.

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.