Zoom Communications, Inc. (NASDAQ:ZM) Given Average Recommendation of “Hold” by Brokerages

Zoom Communications, Inc. (NASDAQ:ZM) has been given an average recommendation of “Hold” by the twenty-seven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $90.3043.

A number of research firms have recently issued reports on ZM. Zacks Research lowered shares of Zoom Communications from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Citigroup boosted their price target on shares of Zoom Communications from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday. KeyCorp dropped their price objective on shares of Zoom Communications from $73.00 to $69.00 and set an “underweight” rating for the company in a research note on Friday, August 22nd. 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, Wells Fargo & Company boosted their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, May 22nd.

Zoom Communications Stock Performance

NASDAQ ZM opened at $80.83 on Friday. The business has a fifty day moving average price of $75.30 and a 200 day moving average price of $76.54. Zoom Communications has a one year low of $64.41 and a one year high of $92.80. The company has a market cap of $24.45 billion, a P/E ratio of 21.33, a P/E/G ratio of 12.47 and a beta of 0.68.

Insider Activity at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the sale, the insider directly owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 10,528 shares of Zoom Communications stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at approximately $147,914.84. This represents a 84.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,017 shares of company stock valued at $7,052,757 in the last three months. Company insiders own 11.51% of the company’s stock.

Hedge Funds Weigh In On Zoom Communications

Large investors have recently modified their holdings of the business. Wayfinding Financial LLC purchased a new stake in Zoom Communications in the 1st quarter valued at about $25,000. SouthState Corp acquired a new stake in shares of Zoom Communications during the first quarter valued at about $25,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Zoom Communications in the 2nd quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after acquiring an additional 246 shares during the period. Finally, REAP Financial Group LLC lifted its holdings in shares of Zoom Communications by 181.7% in the 2nd quarter. REAP Financial Group LLC now owns 355 shares of the company’s stock worth $28,000 after acquiring an additional 229 shares during the last quarter. 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.