Brokerages Set Zoom Communications, Inc. (NASDAQ:ZM) Price Target at $94.74

Shares of Zoom Communications, Inc. (NASDAQ:ZM) have been given a consensus recommendation of “Hold” by the twenty-eight analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $94.7391.

A number of equities analysts have commented on ZM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Zoom Communications in a research report on Tuesday, November 25th. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research note on Tuesday, November 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Communications in a research note on Tuesday, November 25th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Zoom Communications in a report on Tuesday, November 25th. Finally, BTIG Research started coverage on shares of Zoom Communications in a research report on Tuesday, December 16th. They set a “buy” rating and a $105.00 price objective for the company.

Zoom Communications Stock Performance

Zoom Communications stock opened at $90.29 on Friday. The stock has a 50-day simple moving average of $88.31 and a 200 day simple moving average of $84.20. The stock has a market capitalization of $26.73 billion, a P/E ratio of 17.57, a PEG ratio of 8.08 and a beta of 0.90. Zoom Communications has a 52 week low of $64.41 and a 52 week high of $97.58.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, November 24th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Zoom Communications had a return on equity of 12.20% and a net margin of 33.17%.The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. Research analysts forecast that Zoom Communications will post 2.93 earnings per share for the current year.

Insider Buying and Selling at Zoom Communications

In other news, CFO Michelle Chang sold 8,417 shares of Zoom Communications stock in a transaction on Monday, January 12th. The stock was sold at an average price of $86.54, for a total transaction of $728,407.18. Following the completion of the sale, the chief financial officer owned 25,482 shares of the company’s stock, valued at approximately $2,205,212.28. This trade represents a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,568 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $86.55, for a total transaction of $655,010.40. Following the completion of the sale, the insider directly owned 136,182 shares of the company’s stock, valued at approximately $11,786,552.10. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 183,089 shares of company stock worth $15,751,383 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advocate Investing Services LLC acquired a new position in shares of Zoom Communications during the 4th quarter worth approximately $26,000. Strive Financial Group LLC bought a new stake in shares of Zoom Communications in the fourth quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new stake in Zoom Communications during the fourth quarter worth approximately $28,000. Elevation Point Wealth Partners LLC bought a new position in Zoom Communications during the 2nd quarter worth $27,000. Finally, FNY Investment Advisers LLC bought a new position in Zoom Communications during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

About Zoom Communications

Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company’s platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom’s product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.

Founded in 2011 by Eric S.