Zoom Communications (NASDAQ:ZM) Price Target Raised to $121.00 at Benchmark

Zoom Communications (NASDAQ:ZM) had its target price boosted by investment analysts at Benchmark from $115.00 to $121.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 21.47% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Wolfe Research upgraded Zoom Communications from a “peer perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Thursday, February 5th. BTIG Research decreased their price objective on Zoom Communications from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Sanford C. Bernstein decreased their price objective on shares of Zoom Communications from $90.00 to $88.00 and set a “market perform” rating for the company in a report on Thursday, February 26th. Zacks Research cut Zoom Communications from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Zoom Communications in a research report on Thursday, February 26th. Fourteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zoom Communications presently has an average rating of “Hold” and an average price target of $97.57.

Zoom Communications Stock Up 0.2%

ZM opened at $99.61 on Thursday. Zoom Communications has a twelve month low of $69.15 and a twelve month high of $111.56. The company’s 50-day moving average price is $87.73 and its two-hundred day moving average price is $86.52. The stock has a market cap of $29.35 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 5.57 and a beta of 1.00.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Wednesday, February 25th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.04). The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Zoom Communications had a return on equity of 11.88% and a net margin of 39.03%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. Zoom Communications has set its FY 2027 guidance at 5.770-5.810 EPS and its Q1 2027 guidance at 1.400-1.420 EPS. As a group, sell-side analysts anticipate that Zoom Communications will post 3.94 earnings per share for the current year.

Insider Transactions at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total transaction of $653,188.80. Following the transaction, the insider owned 141,971 shares of the company’s stock, valued at approximately $12,130,002.24. The trade was a 5.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Aparna Bawa sold 12,886 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $87.62, for a total value of $1,129,071.32. Following the sale, the chief operating officer owned 1,978 shares in the company, valued at $173,312.36. The trade was a 86.69% 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 90 days, insiders sold 144,329 shares of company stock worth $12,364,989. 11.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Leigh Baldwin & CO. LLC boosted its holdings in Zoom Communications by 16.5% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 5,732 shares of the company’s stock valued at $461,000 after acquiring an additional 810 shares during the period. Bank of America Corp DE boosted its holdings in shares of Zoom Communications by 50.5% in the first quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock valued at $142,108,000 after purchasing an additional 592,899 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Zoom Communications in the first quarter valued at approximately $2,689,000. Bull Harbor Capital LLC bought a new position in Zoom Communications in the first quarter worth approximately $939,000. Finally, Atreides Management LP bought a new position in Zoom Communications in the first quarter worth approximately $105,761,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.