#6 - Zoom Communications (NASDAQ:ZM)
It’s hard to believe how Zoom Communications (NASDAQ:ZM) has become like the Kleenex of videoconferencing stocks. Even when people are conducting a meeting on another platform, they’re said to have a “Zoom call.”
The simple reality is that videoconferencing was gaining popularity prior to the pandemic. When businesses, schools, and families needed a way to connect during the unprecedented shelter-in-place orders, Zoom had its moment. And it delivered. Customers don’t forget that.
Videoconferences are not going to take the place of genuine personal interaction (I hope not). But if the pandemic has taught us anything, it’s that what was formerly thought to be impossible is possible. The same can be said of remote learning (although the jury is still out on that).
Yes, it will be hard for Zoom to build a moat and competitors are already entering the arena. But Zoom has a first mover advantage and, as mentioned above, they’ve already proven themselves under the most adverse conditions.
ZM stock is down nearly 13% since September 1, making it an attractive option for bargain hunters.
About Zoom Video Communications
Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.
Read More - Current Price
- $85.60
- Consensus Rating
- Hold
- Ratings Breakdown
- 9 Buy Ratings, 14 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $87.10 (1.7% Upside)
