3/5/2023 0 Comments Zoom stockThe Company reported earnings-per-share (EPS) profit of $1.03 beating consensus analyst estimates for a profit of $0.88 by $0.15. On May 23, 2023, Zoom Video released its second-quarter fiscal 2023 results for the quarter ending June 2021. Prudent investors looking for exposure in the migration to hybrid work forces can watch for opportunistic pullbacks in shares of Zoom. The Company had some large enterprise wins in the quarter including health insurer Humana with 24,000 Zoom Phones and Avis Budget Group (NYSE:CAR) adding over 10,000 Zoom phones. This is one segment of its drive to enable more business workflows on its platform horizontally and adjacently. The Company completed its acquisition of Solvvy to help strengthen its contact center product with conversational AI technology for customer support teams. More importantly, the stock may be a good recession play as it is shielded against an economic downturn since it is a cost-effective communications tool that helps enterprises drive efficiencies. The best days of triple digit percentage growth may be behind them for Zoom, but the Company is still growing. The key question for investors is how much of the pandemic gains will stick and if the growth cycle is over. The spread of COVID vaccinations and return to work trend has resulted in a normalization as a reversion in business is expected and a rebound from the overshoot. The popular video teleconferencing platform has been a top benefactor during the pandemic as COVID lockdowns skyrocketed its top line and share price. Video communications platform Zoom Video (NASDAQ: ZM) stock has been trading down (-36%) for the year but is staging a rally. 10 Recession-Proof Stocks That Will Let You Wait Out the Bear.7 Stocks with the Pricing Power to Push Through High Inflation.7 Blue-Chip Dividend Stocks That Won’t be Impacted by Rising Interest Rates.7 Mid-Cap Stocks That Can be the Perfect Fit at Any Time.7 Stocks to Buy to Outrun Rising Interest Rates.7 Sports Betting Stocks to Buy for Their Long-Term Possibilities.7 Water Stocks to Buy as the World Dries Up.7 Solar Stocks Leading the Clean Energy Boom.7 Railroad Stocks to Keep Your Portfolio Chugging Along.7 Agricultural Stocks to Buy to Keep Your Portfolio Well Fed.7 Streaming Stocks that Will Stand up to Streaming Fatigue.Don’t Forget About These Cheap, Fundamentally Strong Tech Stocks.3 Alzheimer Stocks to Buy as the Race for a Cure Heats Up.Don’t Chase American Virtual Cloud Technologies Higher.Addentax Price Swings Give Reason To Wait.Is Ford's Revenue Enough to Juice its Stock Price?. ![]() ![]() Will WWE Shares Wrestle Their Way Higher or Will They Tap Out?.Lucid Motors May Test Investors' Resolve, But Should They Sell?.3 Stocks With Market-Beating Price Performance.The Trader's Guide to Equities Research.
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