Zoom stock performance
Yahoo Finance’s Ines Ferre checks out the performwnce and sector perfotmance heading into the closing bell, in addition to Nasdaq tech leaders, the software and semiconductor industries, ARK ETF components, travel stocks, meme stocks, and crude oil’s commodity price action. It was a long-time coming, psrformance even the most starry-eyed bulls would agree that some giveback was warranted. But this has been a massacre of a different order, echoing the horrors of the dot-com crash.
But while risks remain, a few tickers are separating themselves from the pack. Relative strength accompanied their recent movements. Zoom skyrocketed in popularity during the early stages of the pandemic as more people worked remotely from home.
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Zoom stock performance.Zoom Video Communications, Inc. (ZM)
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Learn More. Perhaps no company is more emblematic of the pandemic’s impact on the stock market than Zoom Video Communications ZM After going public in April of , Zoom ended that year up only 9. However, told a different story. Amidst all this stock volatility, Zoom has consistently produced strong business results, and the recent sell-off has made shares much more affordable. With a recent earnings report providing an update on the business, let’s take a look to see if Zoom stock is a buy now.
Zoom’s recent earnings release was for Q3 of the fiscal year , ending April 30, As Zoom laps the quarters where the pandemic had its greatest impact on revenue, growth numbers will appear lower than what investors may be used to. This deceleration in year-over-year revenue growth was to be expected.
What’s going to be important to watch moving forward are the customer metrics that Zoom reports. Zoom is clearly providing products that customers see value in, and they’re responding by spending more each year. Zoom is also a cash generation machine. This cash balance allows Zoom to make investments in the products that attract new customers and drive the company’s impressive net dollar expansion rate.
While Zoom’s Q3 results are impressive, investors should be aware that some of these metrics are slowing from where they were over the past few quarters. As mentioned above, all of these metrics were bound to slow after Zoom pulled forward so much growth over the past few years.
It remains to be seen what growth looks like in the coming quarters and years as the business normalizes. However, even if the results from this quarter continue to hold steady into the future, that level of business performance would still be impressive. When Zoom was growing revenue in the triple digits during and , the market had the stock priced as if that growth would never slow. While that was exciting if you were a shareholder, it made buying shares at that time a dicey proposition.
On the flip side, the stock is now priced more reasonably, if not undervalued, for what’s likely to be Zoom’s business performance going forward. While that wouldn’t be considered cheap, it is the lowest price-to-earnings multiple that Zoom has had since its IPO. For investors who believe Zoom’s strong results can continue for years to come , now might be the time to pick up some shares at a discount. Cost basis and return based on previous market day close. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of Discounted offers are only available to new members.
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Recent earnings show a business that continues to put up strong results despite the stock’s performance. Image source: Getty Images. Zoom Video Communications. Motley Fool Returns Market-beating stocks from our award-winning service. Stock Advisor Returns. Join Stock Advisor. Our Most Popular Articles.
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– Stock Quote & Chart | Zoom Video Communications, Inc.
Growth stocks have been clobbered this year amid inflationary pressures, high interest rates, and fears of a looming recession. Many growth names saw an accelerated rise in their businesses due to pandemic-induced demand a Zoom Video Communications, Inc.
The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences. The company was founded by Eric S.
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