Citizens Jmp Reaffirms Market Perform Rating for Zoom Communications (NASDAQ:ZM)

Zoom Communications (NASDAQ:ZM)‘s stock had its “market perform” rating reiterated by Citizens Jmp in a note issued to investors on Tuesday,Benzinga reports.

A number of other brokerages have also weighed in on ZM. JPMorgan Chase & Co. raised their target price on Zoom Communications from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 25th. Piper Sandler upped their price target on Zoom Communications from $85.00 to $91.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Morgan Stanley lifted their target price on Zoom Communications from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. BTIG Research started coverage on Zoom Communications in a research report on Tuesday, December 16th. They set a “buy” rating and a $105.00 price target for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $100.00 target price on shares of Zoom Communications in a report on Tuesday, November 25th. Fourteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Zoom Communications presently has an average rating of “Hold” and an average price target of $94.74.

Zoom Communications Trading Up 3.6%

Shares of ZM stock opened at $89.20 on Tuesday. The stock has a 50 day moving average of $88.30 and a two-hundred day moving average of $84.31. The company has a market capitalization of $26.41 billion, a P/E ratio of 17.37, a P/E/G ratio of 8.08 and a beta of 0.90. Zoom Communications has a 12 month low of $64.41 and a 12 month high of $97.58.

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

Insider Buying and Selling

In other news, CFO Michelle Chang sold 8,417 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $86.54, for a total value of $728,407.18. Following the sale, the chief financial officer directly owned 25,482 shares of the company’s stock, valued at approximately $2,205,212.28. This represents a 24.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications 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 transaction, the director directly owned 155,917 shares of the company’s stock, valued at $14,093,337.63. This represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 183,089 shares of company stock valued at $15,751,383 over the last three months. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZM. Vanguard Group Inc. increased its stake in shares of Zoom Communications by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock worth $2,327,002,000 after purchasing an additional 1,029,623 shares in the last quarter. AQR Capital Management LLC grew its stake in 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 increased its holdings in Zoom Communications by 5.0% during the 4th quarter. State Street Corp now owns 7,582,924 shares of the company’s stock worth $654,331,000 after acquiring an additional 363,776 shares during the period. Norges Bank bought a new position in shares of Zoom Communications in the second quarter worth $539,998,000. Finally, Geode Capital Management LLC grew its position 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 in the last quarter. 66.54% of the stock is owned by institutional investors.

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.