Zoom software gets high ratings for ease of use and simplicity following earlier video services that provided jerky images and out-of-sync audio. Zoom Video Communications, Inc. - Buy. Yes, shares in Zoom Video Communications (ZM) have soared during the coronavirus emergency. Zoom stock popped again on June 6, 2019, after the company's earnings and guidance topped expectations. He served on active duty with the US Army and has a Bachelor's degree in accounting. A "Zoom Meeting" refers to a videoconferencing session hosted on its cloud infrastructure. Microsoft competes in two ways, with its video conferencing platform Skype for Business and its Teams work collaboration platform. The company said it had 370,200 business customers, each with more than 10 employees, as of the quarter's end on July 31. Zoom morphed into a social phenomenon as making video calls became routine for consumers to keep in touch with family and friends.
The company's July-quarter earnings and revenue also blew past consensus estimates. Yuan formed San Jose, Calif.-based Zoom Video in 2011. It's currently the second-most downloaded app in the world, clinging to the top spots on both Apple's iPhone and Alphabet's Android charts. It's an online event platform with paid admission.
On a weekly chart, Zoom bounced off its 10-week moving average in early August.
It wasn't just the financial metrics that impressed.
Zoom has focused solely on video calls and improving the user experience, a move which appears to be paying off, as converts flock to its platform. ZM stock soared following its July-quarter earnings report.
By May, Zoom Video became a cultural phenomenon. In addition, Zoom stock has an Accumulation/Distribution Rating of A-minus. It isn't just new customers that are boosting revenue. One of the standout performers so far this year has been Zoom Video Communications (NASDAQ:ZM). On the consumer side, Zoom also faces stiff competition.
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Think of the C grade as neutral. Amid Covid-19, demand for Zoom videoconferencing software has surged as businesses told employees to work from home. Stock Advisor launched in February of 2002. Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing. During the Covid-19 crisis, Zoom upped investments on computer servers as demand surged. ZM stock bulls argue that video calling is here to stay and will play a much larger role in businesses, schools and everyday lives. Realtime quote and/or trade prices are not sourced from all markets.
"Work-from-home fertilizer continues to help Zoom grow like a weed," Morgan Stanley analyst Meta Marshall said in a report. The latest 2020 election poll update from IBD/TIPP finds Joe Biden leading Donald Trump thanks to two key groups that backed the president in 2016. Many companies like Zoom tools because they usually don't require support from tech staff. Made In NYC | The company reported fourth-quarter earnings earlier this month that blew the doors off expectations. Registration on or use of this site constitutes acceptance of our, Cisco wants Webex to be as 'cool' as Zoom, and poached this top executive from Box to lead the way: 'Coolness is a reflection of how delightful the experience is', Medley Management Stock: Why MDLY Stock Is Rocketing 161% Today, Facebook, GitHub, GitLab, and others reveal the cloud software tools they're using to help their employees stay productive while working from home, Zoom is releasing a new tool to let paid users charge for admission to online events like conferences or fitness classes, 'It's a choice of your civil liberties or attending school': Virtual learning has opened windows into students' homes, and the privacy concerns go way beyond Zoom-bombing. First-time installations of the company's mobile app are up 213% last week compared to the week that began March 9 and have soared 728% com… The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life.
Also, the company updated customer growth for Zoom Phone. It hit an intraday high of 107.34 on June 20, up 198% from its IPO price.
At Zoomtopia, Zoom management didn't update financial goals except for raising long-term operating margin targets to 25% from 20%.
Zoom stock had skyrocketed 670% in 2020.
Its market opportunity could be huge if video calling becomes embedded in business meetings and consumer behavior. Since the onset of the coronavirus bear market, there haven't been too many stocks that have been spared from the carnage. Given the current economic environment, it's also worth noting Zoom has a rock-solid balance sheet, with $855 million in cash and investments, and no debt. The double bottom looks sort of like the letter "W." It features two distinct sell-offs and often sets the stage for a new breakout. It plans to engage in the investment in mobile and telecommunications businesses. Check out IBD Stock Lists and other IBD content to find dozens more of the best stocks to buy or watch. Zoom said it added 219 customers with more than $100,000 in annual contract value each. Authors may own the stocks they discuss.