Zoom Communications (NASDAQ:ZM) Upgraded at Oppenheimer

Zoom Communications (NASDAQ:ZM) was upgraded by Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, Briefing.com reports. The brokerage currently has a $130.00 target price on the stock. Oppenheimer’s price objective indicates a potential upside of 33.39% from the stock’s current price.

Several other research firms have also weighed in on ZM. Jefferies Financial Group reduced their price target on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Zoom Communications in a research report on Friday, August 21st. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $130.00 price target on shares of Zoom Communications in a research note on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Zoom Communications has a consensus rating of “Moderate Buy” and an average price target of $114.61.

Zoom Communications Trading Down 0.1%

Shares of Zoom Communications stock opened at $97.46 on Wednesday. The business has a 50-day moving average price of $96.88 and a two-hundred day moving average price of $94.88. Zoom Communications has a 1-year low of $70.70 and a 1-year high of $114.74. The company has a market cap of $28.44 billion, a P/E ratio of 9.02, a PEG ratio of 4.51 and a beta of 1.03.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 EPS. 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. Equities research analysts forecast that Zoom Communications will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michelle Chang sold 8,489 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $99.46, for a total transaction of $844,315.94. Following the completion of the transaction, the chief financial officer directly owned 40,438 shares of the company’s stock, valued at approximately $4,021,963.48. This represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Also, Director Herbert Raymond Mcmaster sold 3,000 shares of Zoom Communications stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $94.71, for a total transaction of $284,130.00. Following the completion of the sale, the director owned 8,479 shares in the company, valued at approximately $803,046.09. This trade represents a 26.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 71,209 shares of company stock worth $6,938,989. 8.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Communications

A number of hedge funds have recently bought and sold shares of ZM. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Zoom Communications by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,215 shares of the company’s stock worth $2,380,000 after buying an additional 107 shares during the last quarter. Fortitude Family Office LLC increased its position in Zoom Communications by 27.2% during the third quarter. Fortitude Family Office LLC now owns 533 shares of the company’s stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. 3Chopt Investment Partners LLC increased its position in Zoom Communications by 1.6% during the first quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company’s stock valued at $592,000 after acquiring an additional 119 shares during the last quarter. Rexford Capital Inc. increased its position in Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after acquiring an additional 122 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Zoom Communications by 133.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. 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 collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.