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Is It Time to Sell Zoom Stock and Move On?

TheMotleyFool

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Is It Time to Sell Zoom Stock and Move On?: https://g.foolcdn.com/editorial/images/697793/video-conferencing-cloud-communications.jpg

Cloud-based communications have a rosy future, but the industry is going through some growing pains right now. Zoom Video Communications (NASDAQ: ZM) is a case in point. The stock of the favorite group-meeting platform during the pandemic's early days has been in steady decline since the second half of 2020 as revenue growth continues to slow.

For the second quarter of fiscal 2023 (the three months ended July 31, 2022), the company said revenue was up only 8% year over year. Revised guidance for the full fiscal year implies just 7% growth.

There are faster-growing software stocks out there. Is it time to cut ties with Zoom and buy something else?

Source Fool.com

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