Zoom Communications’ (ZM) “Market Perform” Rating Reaffirmed at Citizens Jmp

Citizens Jmp restated their market perform rating on shares of Zoom Communications (NASDAQ:ZM) in a report issued on Tuesday,Benzinga reports.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on Zoom Communications from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Piper Sandler lifted their target price on shares of Zoom Communications from $85.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price target on shares of Zoom Communications in a report on Tuesday, November 25th. BTIG Research began coverage on shares of Zoom Communications in a research note on Tuesday, December 16th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Wolfe Research upgraded shares of Zoom Communications from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research report on Thursday, February 5th. Fourteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.74.

Zoom Communications Stock Performance

Shares of NASDAQ:ZM opened at $87.51 on Tuesday. The company has a market capitalization of $25.91 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 7.71 and a beta of 0.90. The stock has a fifty day moving average of $88.29 and a 200-day moving average of $84.42. Zoom Communications has a one year low of $64.41 and a one year high of $97.58.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Monday, November 24th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Zoom Communications had a return on equity of 12.20% and a net margin of 33.17%.The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $1.38 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Zoom Communications will post 2.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $90.39, for a total transaction of $223,715.25. Following the completion of the sale, the director directly owned 155,917 shares in the company, valued at approximately $14,093,337.63. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 73,378 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $87.29, for a total value of $6,405,165.62. The SEC filing for this sale provides additional information. Insiders sold a total of 183,089 shares of company stock valued at $15,751,383 in the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Communications

Several large investors have recently made changes to their positions in ZM. Norges Bank acquired a new stake in shares of Zoom Communications in the second quarter worth $539,998,000. AQR Capital Management LLC boosted its holdings in Zoom Communications by 43.9% in the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after purchasing an additional 3,718,186 shares during the period. Acadian Asset Management LLC grew its position in Zoom Communications by 41.1% in the 2nd quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company’s stock worth $293,909,000 after purchasing an additional 1,097,333 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Zoom Communications during the 3rd quarter worth about $86,709,000. Finally, Vanguard Group Inc. raised its position in shares of Zoom Communications by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock valued at $2,327,002,000 after buying an additional 1,029,623 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Communications Company Profile

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.