Zoom Video Communications Is Spending $1.5 Billion to Buy Its Own Stock. Should Investors Buy, Too?
Zoom Video Communications (NASDAQ: ZM) -- which soared as the coronavirus peaked and flopped as the pandemic eased -- surprised Wall Street with better-than-expected fourth-quarter earnings and a new $1.5 billion share repurchase program. Shares bounced on the earnings report, which is encouraging for a stock that remains 88% off its former high.
So, is this the beginning of Zoom's resurgence? Or are the stock's best days behind it?
Digging through Zoom's fourth-quarter earnings yielded some surprises. Although the company still must find a way to get top-line growth going again, the stock offers investors a lot of potential upside at this bargain-basement price.
Source Fool.com