We believe these innovative solutions will further expand our market opportunity for future growth and expansion with customers" he said. In addition to the innovative side of the company, he highlighted the financial results, saying that "we delivered revenue of over one billion dollars driven by ongoing success in Enterprise, Zoom Rooms, and Zoom Phone, which reached 3 million seats during the quarter.
Perhaps the biggest surprise , and likely the main reason for the strong bid, was the forward guidance given by Yuan and his management team. For any bag holders, or perhaps more optimistically for anyone considering getting involved around here, this could be the signal we've been waiting for.
Having been beaten down relentlessly for 18 months, while becoming a poster child for the post-pandemic pop in stocks , Zoom could be on the verge of a recovery rally. But buyers beware. The teams at Coatue Management, Citi, and Piper Sandler have all either cut their price target or dropped their rating on the stock in recent weeks. The bulls might call this the final capitulation that we'll look back on in the months to come, and they actually mightn't be all that wrong.
In reality, how much more downside can be priced into Zoom shares? Few could call their shares expensive down here, especially as they're now back at their pre-pandemic levels. Shares have been hurt badly by the rising interest rate environment they find themselves in, and investors haven't been this averse to paying for longer term growth stories for many years.
But there is a future ahead of Zoom, and at some point you have to be thinking their fortunes will turn around. Thank you This article has been sent to. Customer Service Customer Center. For Business Corporate Subscriptions. For Education Barron's in Education. About Barron's Live Events Centennial. Privacy Notice. Cookie Notice. Copyright Policy. Yuan in and is headquartered in San Jose, CA. The score provides a forward-looking, one-year measure of credit risk, allowing investors to make better decisions and streamline their work ow.
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