Zoom Communications (NASDAQ:ZM) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Zoom Communications (NASDAQ:ZM) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $87.00 price target on the stock.

Several other analysts also recently issued reports on the stock. Bank of America increased their price objective on shares of Zoom Communications from $79.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Zoom Communications in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Wells Fargo & Company lifted their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, May 22nd. Finally, Mizuho lifted their target price on Zoom Communications from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.30.

Zoom Communications Price Performance

Shares of ZM stock opened at $86.83 on Thursday. Zoom Communications has a 1-year low of $64.41 and a 1-year high of $92.80. The firm’s 50-day simple moving average is $77.32 and its 200-day simple moving average is $76.90. The firm has a market cap of $26.27 billion, a P/E ratio of 22.91, a PEG ratio of 12.03 and a beta of 0.57.

Insider Buying and Selling at Zoom Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $83.40, for a total value of $206,415.00. Following the completion of the sale, the director directly owned 155,119 shares in the company, valued at approximately $12,936,924.60. The trade was a 1.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 33,691 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Insiders sold 90,400 shares of company stock worth $6,871,114 over the last quarter. Insiders own 11.51% of the company’s stock.

Institutional Investors Weigh In On Zoom Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wayfinding Financial LLC acquired a new position in shares of Zoom Communications during the first quarter worth approximately $25,000. SouthState Corp acquired a new position in shares of Zoom Communications during the first quarter worth approximately $25,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Zoom Communications during the second quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Zoom Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after buying an additional 246 shares during the last quarter. Finally, REAP Financial Group LLC lifted its holdings in shares of Zoom Communications by 181.7% during the second quarter. REAP Financial Group LLC now owns 355 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.