Zoom Communications (NASDAQ:ZM) Upgraded to Outperform at Oppenheimer

Zoom Communications (NASDAQ:ZM) was upgraded by equities research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, Briefing.com reports. The firm currently has a $130.00 price target on the stock. Oppenheimer’s price objective indicates a potential upside of 33.39% from the stock’s current price.

A number of other analysts have also weighed in on ZM. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Zoom Communications in a research note on Friday, August 21st. Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a report on Wednesday, August 26th. KeyCorp restated a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Zoom Communications in a research note on Monday, August 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of Zoom Communications in a report on Wednesday, August 26th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Zoom Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.61.

Zoom Communications Price Performance

ZM stock opened at $97.46 on Wednesday. Zoom Communications has a 12 month low of $70.70 and a 12 month high of $114.74. The firm’s 50-day moving average is $96.88 and its 200 day moving average is $94.88. The company has a market capitalization of $28.44 billion, a PE ratio of 9.02, a P/E/G ratio of 4.51 and a beta of 1.03.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. Zoom Communications’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 EPS. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. Sell-side analysts forecast that Zoom Communications will post 4.27 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eric Yuan sold 12,100 shares of Zoom Communications stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $93.74, for a total value of $1,134,254.00. Following the completion of the transaction, the chief executive officer owned 22,998 shares in the company, valued at approximately $2,155,832.52. This trade represents a 34.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Herbert Raymond Mcmaster sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $94.71, for a total transaction of $284,130.00. Following the completion of the sale, the director owned 8,479 shares in the company, valued at $803,046.09. The trade was a 26.13% decrease in their ownership of the stock. 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 ninety days, insiders sold 71,209 shares of company stock worth $6,938,989. 8.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its holdings in shares of Zoom Communications by 2,161.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,522 shares of the company’s stock valued at $444,000 after acquiring an additional 4,322 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Zoom Communications by 29.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 10,484 shares of the company’s stock worth $952,000 after acquiring an additional 2,364 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Zoom Communications by 5.9% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 7,177 shares of the company’s stock worth $651,000 after purchasing an additional 403 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Zoom Communications by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,215 shares of the company’s stock worth $2,380,000 after purchasing an additional 107 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in Zoom Communications by 10.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 106,383 shares of the company’s stock worth $9,656,000 after purchasing an additional 9,698 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Communications Company Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.