The room for expansion gives investors hope to continue holding Zoom stock through the pandemic.Zoom Video Communications Inc (NASDAQ: ZM) stock closed yesterday trading at 3.24, up approximately 5.10%. Meanwhile, Zoom stocks are up approximately 3.11% during Friday’s pre-market. Zoom services demand and potential future growth was largely attributed to Thursday’s spike in Zoom stock. Notably, Zoom announced that it had sold 1 million Zoom Phone seats. Zoom Phone is an enterprise-focused communications platform available on the Zoom Pro tier that complements Zoom Meetings, Zoom Chat, Zoom Rooms, and Zoom Video Webinars.With the coronavirus infection numbers still high in most places, Zoom anticipates experiencing more growth in the coming quarters. Moreover, more people have become
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The room for expansion gives investors hope to continue holding Zoom stock through the pandemic.
Zoom Video Communications Inc (NASDAQ: ZM) stock closed yesterday trading at $383.24, up approximately 5.10%. Meanwhile, Zoom stocks are up approximately 3.11% during Friday’s pre-market. Zoom services demand and potential future growth was largely attributed to Thursday’s spike in Zoom stock. Notably, Zoom announced that it had sold 1 million Zoom Phone seats. Zoom Phone is an enterprise-focused communications platform available on the Zoom Pro tier that complements Zoom Meetings, Zoom Chat, Zoom Rooms, and Zoom Video Webinars.
With the coronavirus infection numbers still high in most places, Zoom anticipates experiencing more growth in the coming quarters. Moreover, more people have become accustomed to remote working, particularly in the comfort of their homes.
Additionally, Zoom announced that it had managed to raise approximately $1.75 billion after conducting a public stock offering. Reportedly, with the company being one of the most profitable, especially since the onset of the coronavirus pandemic, the raised capital is speculated to be used for a possible acquisition. Hereby leaving Zoom investors to speculate on its future growth amid the pandemic.
Zoom (ZM) Stock Market Outlook
Zoom apparently emerged as a leader in the industry despite fierce competition from established companies like Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL). Zoom has continually improved its system particularly in regards to security to keep and attract more customers. Initially, there were several reports of video-storming in meetings that caused a significant number of high net worth investors to flee.
Zoom has been regarded as a stay-at-home stock as it has significantly enabled people to continue with their lives at home. Although things might change in the future, the video conferencing market is expected to reach $8.56 billion by 2027 witnessing a CAGR of 9.9% between 2020 and 2027, according to Grand View Research.
The room for expansion gives investors hope to continue holding Zoom stock through the pandemic.
The company has a reported market valuation of approximately $105.97 billion with 203.86 million outstanding shares. Market data provided by MarketWatch indicate that Zoom stocks rallied over 400% last year. However, they are down approximately 28.55% and 4.58% in the past three months and five days respectively.
Having been rated 28 times by credible Wall Street analysts, Zoom stock received an average of Over rating.
During its third-quarter results, Zoom called for fiscal fourth-quarter adjusted earnings of 77 cents to 79 cents per share on $806 million to $811 million in revenue. If the company hit the set goal, it would reciprocate to a 300% increase in revenue in regards to the prior quarter.
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