Shares of Zoom Communications, Inc. (NASDAQ:ZM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight research firms that are presently covering the firm, MarketBeat reports. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $112.5455.
A number of brokerages have weighed in on ZM. HSBC lifted their target price on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. UBS Group lifted their price objective on Zoom Communications from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a report on Friday, August 21st. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 27th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $108.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th.
Check Out Our Latest Stock Report on Zoom Communications
Zoom Communications Price Performance
Zoom Communications (NASDAQ:ZM – Get Free Report) last issued its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted $1.53 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. Research analysts expect that Zoom Communications will post 4.26 earnings per share for the current year.
Insider Buying and Selling at Zoom Communications
In other Zoom Communications news, CEO Eric Yuan sold 12,100 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $95.34, for a total transaction of $1,153,614.00. Following the completion of the sale, the chief executive officer owned 22,998 shares in the company, valued at $2,192,629.32. This represents a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $90.80, for a total value of $770,801.20. Following the sale, the chief financial officer directly owned 35,452 shares in the company, valued at $3,219,041.60. This trade represents a 19.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 53,518 shares of company stock worth $5,133,728. 8.83% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Zoom Communications
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in shares of Zoom Communications by 8,620.6% in the 2nd quarter. California State Teachers Retirement System now owns 31,999,864 shares of the company’s stock worth $2,761,908,000 after purchasing an additional 31,632,917 shares in the last quarter. Norges Bank acquired a new position in Zoom Communications during the 4th quarter valued at about $509,788,000. AQR Capital Management LLC boosted its holdings in Zoom Communications by 43.9% in the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock worth $1,052,328,000 after acquiring an additional 3,718,186 shares in the last quarter. Atreides Management LP purchased a new stake in shares of Zoom Communications during the first quarter worth about $105,761,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Zoom Communications during the third quarter worth about $86,709,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.
Zoom Communications Company Profile
Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.
Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.
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