Zoom Stock is Up 600% After Lockdown Forces ‘Virtual’ Meetings, Classes

zoom garbage

Zoom Video Communications shares have rallied an astounding 600% this year, in perhaps the single-most vivid example of a business that has blossomed during the Covid-19 pandemic. The company had revenue growth in its latest quarter of a hard-to-fathom 355%, driven by huge growth in videoconferencing amid a widespread shift to working and learning from home.

That rally has transformed Zoom (ticker: ZM) into one of the market’s most expensive stocks by most measures—the stock trades for about 200 times current fiscal year estimates earnings and almost 60 times estimated current year sales.

Nonetheless, Mizuho Securities analyst Siti Panigrahi on Friday picked up coverage of Zoom shares with a Buy rating and $550 target price. The stock was trading around $492 Friday afternoon.

Market Watch

MSM Admits COVID Has Made Billionaires Richer (Video)

Wisconsin Agency Tells Employees They Must Wear a Face Mask For At-Home Zoom Calls

China’s Influence Over Zoom Raises Concerns For US College Courses Online

Zoom Does About-Face After Being Caught Routing User Data Through China

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s