Is Zoom Video Communications Stock a Buy?
Zoom Video Communications (NASDAQ: ZM) is a bit of a mystery as a growth stock.
Once a pandemic darling (because it facilitated video communications for millions of users forced to avoid direct contact with others), investors eventually soured on the stock as users were able to return to the offline activities they had enjoyed before COVID-19-related lockdowns. And yet the business performed solidly throughout the past few years even as the stock fell.
Zoom even initiated new growth efforts, building out an artificial intelligence (AI)-driven communications ecosystem. Then there is the endorsement of Ark Investment Management's CEO Cathie Wood, whose bold predictions regarding other tech stocks (like and Bitcoin) have come to pass. Wood and her team predicted a $1,500-per-share price target for Zoom by 2026, a 22-fold gain from current levels.
Source Fool.com
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