Zoom Communications’ (ZM) “Neutral” Rating Reiterated at Cantor Fitzgerald

Zoom Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued to investors on Monday,Benzinga reports. They currently have a $104.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 3.19% from the company’s previous close.

Several other analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Piper Sandler raised their price target on Zoom Communications from $91.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Citizens Jmp reaffirmed a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Bank of America assumed coverage on Zoom Communications in a research note on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Robert W. Baird increased their price objective on Zoom Communications from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.64.

Zoom Communications Price Performance

Shares of ZM opened at $107.43 on Monday. Zoom Communications has a 1-year low of $70.70 and a 1-year high of $114.74. The stock has a market cap of $31.50 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 5.67 and a beta of 1.00. The firm has a fifty day moving average price of $93.62 and a 200 day moving average price of $91.12.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.13. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company posted $1.43 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Zoom Communications will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zoom Communications news, Director Santiago Subotovsky sold 7,911 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $101.33, for a total transaction of $801,621.63. Following the sale, the director directly owned 127,060 shares in the company, valued at approximately $12,874,989.80. The trade was a 5.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,644 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $91.98, for a total transaction of $703,095.12. Following the completion of the transaction, the insider owned 148,403 shares of the company’s stock, valued at $13,650,107.94. This represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 56,155 shares of company stock valued at $5,654,761. Corporate insiders own 8.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC raised its position in Zoom Communications by 2.0% in the fourth quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company’s stock worth $512,000 after purchasing an additional 116 shares in the last quarter. 3Chopt Investment Partners LLC boosted its holdings in Zoom Communications by 1.6% during the first quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company’s stock valued at $592,000 after purchasing an additional 119 shares in the last quarter. Rexford Capital Inc. grew its stake in shares of Zoom Communications by 45.7% in the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after purchasing an additional 122 shares during the period. New York State Teachers Retirement System raised its holdings in shares of Zoom Communications by 0.5% in the 4th quarter. New York State Teachers Retirement System now owns 24,263 shares of the company’s stock worth $2,094,000 after buying an additional 123 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in shares of Zoom Communications by 33.5% in the 4th quarter. Root Financial Partners LLC now owns 542 shares of the company’s stock worth $47,000 after buying an additional 136 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other 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.