Zoom Communications’ (ZM) “Market Perform” Rating Reiterated at Citizens Jmp

Zoom Communications (NASDAQ:ZM)‘s stock had its “market perform” rating reissued by analysts at Citizens Jmp in a report issued on Tuesday,Benzinga reports.

Several other equities research analysts have also recently weighed in on ZM. Wall Street Zen cut Zoom Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zoom Communications in a research report on Monday, December 29th. Morgan Stanley increased their price target on shares of Zoom Communications from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Communications in a research note on Tuesday, November 25th. Finally, Wolfe Research upgraded Zoom Communications from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, February 5th. Fourteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.74.

Zoom Communications Price Performance

Shares of ZM opened at $89.20 on Tuesday. Zoom Communications has a 1 year low of $64.41 and a 1 year high of $97.58. The stock has a 50 day simple moving average of $88.30 and a two-hundred day simple moving average of $84.31. The firm has a market cap of $26.41 billion, a P/E ratio of 17.37, a P/E/G ratio of 8.08 and a beta of 0.90.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Monday, November 24th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Zoom Communications had a net margin of 33.17% and a return on equity of 12.20%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company earned $1.38 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Zoom Communications will post 2.93 earnings per share for the current year.

Insider Transactions at Zoom Communications

In related news, CEO Eric S. Yuan sold 73,378 shares of Zoom Communications stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $87.29, for a total transaction of $6,405,165.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michelle Chang sold 8,417 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $86.54, for a total value of $728,407.18. Following the completion of the sale, the chief financial officer owned 25,482 shares of the company’s stock, valued at approximately $2,205,212.28. The trade was a 24.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 183,089 shares of company stock worth $15,751,383. 10.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zoom Communications

Large investors have recently added to or reduced their stakes in the stock. Advocate Investing Services LLC purchased a new stake in Zoom Communications in the 4th quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Zoom Communications during the second quarter valued at approximately $27,000. Strive Financial Group LLC purchased a new position in shares of Zoom Communications in the 4th quarter valued at $27,000. Toth Financial Advisory Corp acquired a new position in shares of Zoom Communications during the fourth quarter worth $28,000. Finally, Root Financial Partners LLC acquired a new position in shares of Zoom Communications in the third quarter valued at about $33,000. 66.54% of the stock is owned by institutional investors.

About Zoom Communications

Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company’s platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom’s product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.

Founded in 2011 by Eric S.