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Home Indices and Stocks

Investing in Zoom

November 10, 2020
in Indices and Stocks
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Investing-in-Zoom

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Zoom Video Communications Inc. (ZM) which joined the Nasdaq 100 Index back in April, has surpassed ExxonMobil in net worth.

On October 29th, Zoom quoted a market valuation of $139 billion, compared to Exxon’s $138.9 billion. This valuation follows the heels of energy and oil prices plummeting amidst the COVID-19 pandemic. Accordingly, Exxon, like other oil and energy companies; has been forced to improve balance sheets, reduce staff, suspend dividends, and curtail production.

Additionally, Zoom founder, Eric Yuan’s personal fortune has soared in tandem with Zoom’s business, as millions of people relied on the application’s offerings as working from home and video-conferencing has become the norm during the on-going pandemic restrictions. Overall, Zoom is one of the best performing stocks so far in 2020, largely weathering the pandemic-induced sell-off in March and rising by more than 600% over the year. Furthermore, Zoom is forecasted to garner a $690 million in revenue for the current quarter as demand for remote work solutions are continued.

So, the question lies in weather the communication and technology company is worth investing in.

If the company can maintain its projected fiscal third quarter revenue, it would result in annual revenue of about $2.75 billion. These figures would ultimately translate to approximately $1.54 billion in free cash flow. Opposingly, even if the company’s revenue falls and the pandemic’s repercussions cease, Zoom is likely to see continued growth albeit at a much slower rate. This stems from the fact that the company was already growing its revenue at a rate of 88% year before COVID-19 hit.

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Copyright © 2020 - All Rights Reserved

Disclaimer: All content, posts, articles, pictures, links, and information published here and throughout LegacyFX’s Blog are for informational purposes only and do not constitute an official opinion or call-to-action by LegacyFX. Opinions and information presented here may not coincide with other market reports and experts. Nothing presented should be construde as investment advice, recommendation, or suggestion to perform an actions with a financial instruments. The company carries zero influence over any markets and signals. Therefore, the company cannot be held liable for nor guarantee any profits or losses.

All content rights reserved. When copying or republishing the materials presented here, a link to blog.legacyfx.com or attribution in the format of "Provided by LegacyFX Blog" is required. Failure to comply with this rule may result in legal action. For general questions, please contact us via the form on the "Contact Us" page.