#5 - Zoom (NASDAQ:ZM)
As a freelance writer, I was using Zoom (NASDAQ:ZM) before it was cool. But has Zoom ever become the big man on campus. Zoom has become one of the most bought stocks in recent weeks and it’s not hard to see why. Businesses across the world are adjusting to a remote workforce.
This is an opportunity for Zoom to make its case to businesses that have been resisting the trend of having employees do some or all of their work remotely. And Kate Lister, president of the consulting firm Global Workplace Analytics, says it’s possible that 25 percent of employees will continue working from home multiple days a week after employees are given the all clear to return to work.
ZM stock has climbed over 100% for the year as of March 27. And according to Needham analyst Richard Valera, Zoom may still have a long runway.
“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
- $78.93
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 13 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $76.26 (3.4% Downside)
