Zoom Communications’ (ZM) “Buy” Rating Reiterated at BTIG Research

Zoom Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued on Monday,Benzinga reports. They presently have a $125.00 target price on the stock. BTIG Research’s target price would suggest a potential upside of 16.35% from the company’s previous close.

Other analysts have also recently issued reports about the company. Piper Sandler increased their price objective on Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Wells Fargo & Company lifted their target price on shares of Zoom Communications from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Citizens Jmp reaffirmed a “market perform” rating on shares of Zoom Communications in a report on Wednesday, May 20th. Weiss Ratings cut shares of Zoom Communications from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Finally, Citigroup raised their price target on shares of Zoom Communications from $122.00 to $126.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.64.

Zoom Communications Stock Performance

NASDAQ:ZM opened at $107.43 on Monday. The stock has a 50 day moving average of $93.62 and a two-hundred day moving average of $91.12. Zoom Communications has a 12 month low of $70.70 and a 12 month high of $114.74. The firm has a market cap of $31.50 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 5.67 and a beta of 1.00.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 earnings per share. On average, research analysts forecast that Zoom Communications will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric S. Yuan sold 12,100 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $100.17, for a total value of $1,212,057.00. Following the completion of the sale, the chief executive officer directly owned 22,998 shares of the company’s stock, valued at $2,303,709.66. This trade represents a 34.47% decrease in their position. The sale was disclosed in a legal filing 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, insider Velchamy Sankarlingam sold 7,644 shares of Zoom Communications stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $91.98, for a total value of $703,095.12. Following the transaction, the insider owned 148,403 shares in the company, valued at approximately $13,650,107.94. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,155 shares of company stock valued at $5,654,761 over the last 90 days. Insiders own 8.83% of the company’s stock.

Institutional Trading of Zoom Communications

Several hedge funds have recently made changes to their positions in ZM. Advocate Investing Services LLC acquired a new stake in shares of Zoom Communications during the 4th quarter worth approximately $26,000. Strive Financial Group LLC acquired a new position in Zoom Communications in the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Zoom Communications by 133.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Rexford Capital Inc. grew its position in Zoom Communications by 45.7% in the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after acquiring an additional 122 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Zoom Communications by 83.3% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $38,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Communications Company Profile

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.