Zoom Communications (NASDAQ:ZM) Stock Price Breaks Above Fifty Day Moving Average After Insider Selling

Zoom Communications, Inc. (NASDAQ:ZM) passed above its 50 day moving average during trading on Monday following insider buying activity. The stock has a 50 day moving average of $96.38 and traded as high as $98.36. Zoom Communications shares last traded at $98.04, with a volume of 2,179,906 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ZM shares. Oppenheimer upgraded shares of Zoom Communications from a “market perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Wednesday, October 21st. Jefferies Financial Group cut their target price on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of Zoom Communications in a report on Wednesday, October 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $104.00 price objective on shares of Zoom Communications in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $108.00 price objective on shares of Zoom Communications in a research report on Wednesday, August 26th. Sixteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.48.

Zoom Communications Price Performance

The company’s 50-day moving average price is $96.38 and its two-hundred day moving average price is $91.61. The company has a market capitalization of $28.61 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 4.25 and a beta of 1.03.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. Zoom Communications’s 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. On average, analysts anticipate that Zoom Communications, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zoom Communications

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in shares of Zoom Communications by 10.8% during the first quarter. Pacer Advisors Inc. now owns 2,595,840 shares of the company’s stock worth $208,680,000 after purchasing an additional 253,181 shares during the period. Dimensional Fund Advisors LP increased its position in Zoom Communications by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,352,126 shares of the company’s stock worth $189,051,000 after buying an additional 94,043 shares during the period. Bank of America Corp DE increased its position in Zoom Communications by 50.5% during the 1st quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock worth $142,108,000 after buying an additional 592,899 shares during the period. Bank of New York Mellon Corp increased its position in Zoom Communications by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,411,745 shares of the company’s stock worth $113,490,000 after buying an additional 434,981 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Zoom Communications by 2.8% during the first quarter. First Trust Advisors LP now owns 1,362,501 shares of the company’s stock worth $109,531,000 after buying an additional 36,657 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Communications

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.