#4 - Zoom (NASDAQ:ZM)
Speaking of video conferencing, Zoom (NASDAQ:ZM) is one of the most talked-about stocks in recent weeks. As employees work from home, it may very well change how employees and employers think about the need for meetings. But that’s a different discussion.
Until then, there’s Zoom, a competitor of WebEx. The outbreak of the coronavirus is providing Zoom with a moment to shine. That’s because schools, universities, and even children’s playgroups are finding applications for the company’s software.
The stock is up 90% in 2020 as of March 20. And since nobody knows how long this forced sequestering will last, Zoom has a nice long runway for investors. Plus, according to Needham analyst Richard Valera, the stock still has room to grow.
“We think Zoom’s exceptionally easy to use meetings product has both enabled and benefited from a long-term secular shift towards working from home,” says Valera. “We think Covid-19 is driving an enduring application of this shift. In the near-term, our checks confirm significant increases in business activity, especially in Covid hotspots, which admittedly could be mitigated by delays in closing larger enterprise deals.”
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
- $81.20
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 13 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $76.61 (5.7% Downside)
