The stock climbed more than 6% on strong demand and on Monday hit new record high levels. Zoom Video shares traded inversely to the rest of the U.S. market, which sold off sharply as the number of confirmed coronavirus cases outside China surged over the weekend.
— RECOMMENDED —
34-yr-old Matt McCall made history when he predicted five 1,000% winners on national TV. Now he’s doing it all over again. 200 stocks he’s recommended soared 100% or more. Sixteen recommendations soared 1,000% or more. And he just went public with his #1 pick for the new year. If you’ve ever wondered how legendary investors find stocks that shoot up 10X, and how you can do it too…
The company’s CEO Eric Yuan told CNBC earlier this month that demand for the cloud-based video conferencing service has surged, with U.S. employees in China forced to work remotely due to coronavirus. Zoom Video offers videoconferencing, online meetings, chat and mobile collaboration services.
“That’s why our usage is very, very high since the last of the month, last week. Almost every day, that’s a record usage,” Yuan said a few weeks ago.
Zoom Video is expected to report fourth-quarter results after the market closes on Mar. 4. Goldman Sachs, which has a sell rating on the stock, said in a note to investors that it expects Zoom Video’s results will see revenue come “roughly in line” with Wall Street’s average estimate of $176 million.
|— RECOMMENDED —|
|Target 1,133% in Gains Every Single Year|
|Louis Navellier showed a group of readers how to average these types of gains every year, for 15 years straight … by finding small-cap stocks set to soar 10X or more. Now he wants to show you how … in a FREE webinar he’s hosting on February 26. Click here to register today!|
“We continue to view ZM as the leading video communication platform, with a product that is gaining significant traction and changing the way its customers communicate,” Goldman Sachs analyst Heather Bellini said. “However, we believe market expectations from a valuation perspective have gotten ahead of themselves.”
Source: cnbc.com | Original Link