$Zoom(ZM)$ bullish Zoom (NASDAQ:ZM), while not at its pandemic peak, remains a top choice for digital classrooms. With more than 50% market share in 2022, it’s deeply entrenched in this sector. Despite slower growth, Q2 revenue increased by 3%. Analysts predict gradual growth to 11.7% in 2027 and double-digit earnings per share growth by 2028.
The stock recently received an “outperform” rating from Royal Bank of Canada, with a price target of $95.00, suggesting a potential 46.85% upside from the previous close.
Zoom’s future growth hinges on corporate success and expanding its role as a comprehensive business communication platform. In 2023, its stock has seen a modest 2% gain, trailing other software stocks. Despite this, Zoom holds a robust cash reserve of around $6 billion.
Comments