Zoom Communications’ (ZM) Outperform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Zoom Communications (NASDAQ:ZM) in a report released on Thursday,Benzinga reports. The firm currently has a $100.00 price objective on the stock.

Several other research firms also recently commented on ZM. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Zoom Communications in a research note on Thursday. JMP Securities reiterated a “market perform” rating on shares of Zoom Communications in a research note on Thursday. Zacks Research downgraded Zoom Communications from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price on Zoom Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zoom Communications presently has a consensus rating of “Hold” and an average target price of $91.30.

Zoom Communications Trading Up 0.6%

Zoom Communications stock opened at $86.83 on Thursday. Zoom Communications has a 12 month low of $64.41 and a 12 month high of $92.80. The business’s 50 day simple moving average is $77.32 and its 200 day simple moving average is $76.90. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 12.03 and a beta of 0.57.

Insider Buying and Selling

In related news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction 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 sale, the director owned 155,119 shares in the company, valued at approximately $12,936,924.60. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total value of $1,871,500.00. Following the completion of the sale, the director owned 5,875 shares in the company, valued at $439,802.50. This trade represents a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,400 shares of company stock valued at $6,871,114 in the last ninety days. 11.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZM. Norges Bank bought a new position in Zoom Communications in the second quarter valued at $539,998,000. Acadian Asset Management LLC increased its stake in Zoom Communications by 41.1% in the second quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company’s stock valued at $293,909,000 after acquiring an additional 1,097,333 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Zoom Communications by 63.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,137,093 shares of the company’s stock valued at $166,651,000 after acquiring an additional 830,393 shares during the last quarter. Victory Capital Management Inc. increased its stake in Zoom Communications by 119.5% in the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company’s stock valued at $103,670,000 after acquiring an additional 765,092 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Zoom Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after acquiring an additional 624,863 shares during the last quarter. Institutional investors 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.