Zoom Communications (NASDAQ:ZM) Rating Increased to Strong-Buy at Wall Street Zen

Zoom Communications (NASDAQ:ZM) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

Other analysts have also recently issued research reports about the company. Dbs Bank upgraded Zoom Communications to a “moderate buy” rating in a research report on Tuesday, September 16th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Zoom Communications in a report on Thursday, September 18th. Citigroup boosted their target price on Zoom Communications from $84.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research report on Friday, August 22nd. Finally, KeyCorp lowered their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Zoom Communications Stock Up 0.6%

NASDAQ ZM opened at $84.51 on Friday. The firm has a market capitalization of $25.57 billion, a P/E ratio of 22.30, a PEG ratio of 11.67 and a beta of 0.57. Zoom Communications has a 52 week low of $64.41 and a 52 week high of $92.80. The company has a 50-day moving average price of $78.42 and a 200-day moving average price of $77.29.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 33,691 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider owned 129,377 shares of the company’s stock, valued at $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 90,400 shares of company stock worth $6,871,114. Insiders own 11.51% of the company’s stock.

Institutional Trading of Zoom Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in Zoom Communications in the 1st quarter worth $25,000. SouthState Corp acquired a new stake in shares of Zoom Communications during the 1st quarter worth approximately $25,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Zoom Communications during the 2nd quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted 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 purchasing an additional 246 shares during the period. Finally, REAP Financial Group LLC boosted its holdings in 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 in the last quarter. Hedge funds and other 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.