Stifel Nicolaus Has Lowered Expectations for Zoom Communications (NASDAQ:ZM) Stock Price

Zoom Communications (NASDAQ:ZM) had its target price lowered by equities research analysts at Stifel Nicolaus from $85.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential downside of 3.00% from the stock’s current price.

Other analysts have also issued reports about the stock. JMP Securities reissued a “market perform” rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Zoom Communications in a research note on Friday. Scotiabank boosted their target price on shares of Zoom Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of Zoom Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.00.

Zoom Communications Trading Up 12.7%

Shares of ZM opened at $82.47 on Friday. The firm has a market capitalization of $24.95 billion, a P/E ratio of 21.76, a P/E/G ratio of 21.58 and a beta of 0.68. Zoom Communications has a 12-month low of $64.41 and a 12-month high of $92.80. The firm has a fifty day moving average price of $75.08 and a 200-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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoom Communications had a net margin of 24.99% and a return on equity of 11.95%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 earnings per share. Analysts predict that Zoom Communications will post 2.93 earnings per share for the current year.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total transaction of $593,727.50. Following the completion of the sale, the insider directly owned 129,377 shares of the company’s stock, valued at approximately $10,026,717.50. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total transaction of $2,519,749.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,542 shares of company stock valued at $6,609,623. 11.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Zoom Communications by 0.6% in the second quarter. Vanguard Group Inc. now owns 24,951,437 shares of the company’s stock worth $1,945,713,000 after purchasing an additional 154,783 shares during the last quarter. AQR Capital Management LLC grew its holdings in Zoom Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after purchasing an additional 373,509 shares during the last quarter. State Street Corp grew its holdings in Zoom Communications by 6.0% in the second quarter. State Street Corp now owns 7,189,501 shares of the company’s stock worth $560,637,000 after purchasing an additional 410,051 shares during the last quarter. Norges Bank purchased a new position in Zoom Communications in the second quarter worth $539,998,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Zoom Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock worth $473,732,000 after purchasing an additional 36,210 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.