Zoom Video Communications Inc (NASDAQ: ZM) is one of the hottest stocks this year and is up by about 540 per cent year-to-date (20 Nov 2020 close). Does it still have legs to run? Zoom Video Communications Inc has been on a roll this year. The video conferencing software-as-a-service (SaaS) company has been one of the main benefactors of the COVID-19 pandemic. In the quarter ended 30 April 2020, Zoom’s revenue increased by a mind-boggling 169 per cent from the corresponding period a year ago. But that wasn’t all. In the very next quarter ended 31 July 2020, Zoom again blew past expectations, reporting a 355 per cent increase in revenue. Unsurprisingly, investors have reacted sharply to the news, sending Zoom’s stock price up by about 540 per cent since the turn of the year. As of the time of writing, the company was valued at US$114.8 billion (S$154.1 billion). To put
Zoom Video Communications Inc. (Nasdaq: ZM) Grew ~540% Year To Date: Is Its Stock Overvalued?
Read the Full Article