Will Zoom Video Stock Reach $500 Again In 2022?

January 25, 2021 9:25 am
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Will Zoom Video Stock Reach $500 Again In 2022?

Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

We surveyed a group of trader and investors on whether shares of Zoom Video Communications Inc (NASDAQ:ZM) stock will reach $500 again by 2022.

Zoom Stock Forecast

Zoom provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East and Africa. The company's product portfolio includes Zoom Meetings and Zoom Phone, which offers HD video, voice, chat, and content sharing through mobile devices, computers and conference room systems.

Zoom shares were trading lower going into the end of 2020, potentially amid profit-taking following the stock's surge during the pandemic.

Looking at the video communication company’s third-quarter earnings results, Zoom earned $192.24 million, a 2.2% increase from the preceding quarter. Further, Zoom also posted a total of $777.20 million in sales, a 17.13% increase since the second quarter.

Survey Says

Overall, 59% of respondents said Zoom will indeed reach $500 again by 2022.

Respondents believe it’s going to be at least another year before people return to work in offices and schools. Until then, Zoom will continue to be the video communications software company of choice to conduct meetings and schoolwork.

Traders and investors reiterated many companies across the globe have grown used to the ease of meeting online and will continue to use Zoom as their go-to video communications service in the coming years.

Respondents also noted companies such as Slack Technologies Inc (NYSE:WORK), Atlassian Corporation PLC (NYSE:TEAM) and Amazon.com, Inc (NASDAQ:AMZN) will benefit from the creation of more elaborate home offices.

This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 500 adults.

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