Robert W. Baird Issues Pessimistic Forecast for Zoom Communications (NASDAQ:ZM) Stock Price

Zoom Communications (NASDAQ:ZM) had its price target cut by equities research analysts at Robert W. Baird from $100.00 to $95.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 15.19% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ZM. Piper Sandler raised their price target on Zoom Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded Zoom Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. raised their price target on Zoom Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. William Blair reaffirmed an “outperform” rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Zoom Communications in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Zoom Communications Trading Up 12.7%

Shares of NASDAQ ZM opened at $82.47 on Friday. Zoom Communications has a one year low of $64.41 and a one year high of $92.80. The firm has a market capitalization of $24.95 billion, a PE ratio of 21.76, a PEG ratio of 21.58 and a beta of 0.68. The business has a 50-day moving average price of $75.08 and a two-hundred day moving average price of $76.64.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Zoom Communications had a return on equity of 11.95% and a net margin of 24.99%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts anticipate that Zoom Communications will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In other news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated Tuesday, July 15th. The stock was 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 approximately $439,802.50. This represents a 80.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Janet Napolitano sold 2,617 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director directly owned 4,728 shares in the company, valued at approximately $363,015.84. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,542 shares of company stock worth $6,609,623 in the last 90 days. Company insiders own 11.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZM. Wedmont Private Capital raised its position in Zoom Communications by 4.1% in the 2nd quarter. Wedmont Private Capital now owns 3,499 shares of the company’s stock worth $271,000 after purchasing an additional 137 shares during the period. Smartleaf Asset Management LLC raised its position in Zoom Communications by 6.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company’s stock worth $172,000 after purchasing an additional 143 shares during the period. Wynn Capital LLC boosted its stake in shares of Zoom Communications by 1.6% during the first quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock valued at $752,000 after purchasing an additional 160 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Zoom Communications by 12.6% during the second quarter. Penserra Capital Management LLC now owns 1,446 shares of the company’s stock valued at $111,000 after purchasing an additional 162 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Zoom Communications by 0.7% during the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company’s stock valued at $1,792,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

About Zoom Communications

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.