Zoom Communications (NASDAQ:ZM) Given “Buy” Rating at Rosenblatt Securities

Zoom Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $130.00 target price on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 22.64% from the company’s previous close.

ZM has been the topic of a number of other reports. Bank of America initiated coverage on Zoom Communications in a research note on Wednesday. They set a “buy” rating and a $130.00 price objective on the stock. Wells Fargo & Company boosted their target price on Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. HSBC increased their target price on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. UBS Group raised their price target on Zoom Communications from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Zoom Communications in a research note on Thursday, July 2nd. Sixteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.64.

Zoom Communications Stock Performance

Shares of ZM stock traded down $0.30 on Friday, hitting $106.00. 218,421 shares of the company’s stock traded hands, compared to its average volume of 4,096,663. The stock has a market capitalization of $31.08 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 4.26 and a beta of 1.00. The company’s fifty day simple moving average is $93.34 and its 200 day simple moving average is $91.01. Zoom Communications has a one year low of $70.70 and a one year high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.13. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Zoom Communications will post 4.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Eric S. Yuan sold 12,100 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $100.17, for a total transaction of $1,212,057.00. Following the completion of the sale, the chief executive officer directly owned 22,998 shares in the company, valued at approximately $2,303,709.66. This represents a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Santiago Subotovsky sold 7,911 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $101.33, for a total value of $801,621.63. Following the completion of the sale, the director directly owned 127,060 shares in the company, valued at $12,874,989.80. The trade was a 5.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,155 shares of company stock worth $5,654,761 over the last ninety days. 8.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Zoom Communications by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock worth $2,327,002,000 after buying an additional 1,029,623 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Zoom Communications by 43.9% during the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after acquiring an additional 3,718,186 shares in the last quarter. State Street Corp raised its holdings in shares of Zoom Communications by 5.0% during the fourth quarter. State Street Corp now owns 7,582,924 shares of the company’s stock valued at $654,331,000 after acquiring an additional 363,776 shares in the last quarter. Norges Bank purchased a new stake in Zoom Communications in the fourth quarter worth $509,788,000. Finally, Geode Capital Management LLC lifted its stake in Zoom Communications by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock worth $445,254,000 after acquiring an additional 152,862 shares during the period. 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.