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Zoom (again) posted the highest growth in the cloud software category with revenue at of $956.24 million, or 191% year-over-year growth. The bottom line is also the best in its category (yet again) with adjusted EPS of $1.32 and free cash flow that is nearly double the consensus.
She started her investing career covering fall-through-the-cracks stocks and was ridiculed for buying Amazon when it had just a $5 billion market cap in 2002.
The internet was considered a figment of Wall Street s imagination, Wood said in a Wednesday interview with Benzinga. At the time, Amazon was down 80% from its peak during the dot-com bubble.
But Wood was convinced. She had three little kids and no time to shop in physical stores. Amazon, whose e-commerce services were a lifesaver for working moms like her, was going to become a big deal one day, in her view.
But the aftermath of the tech bubble had made any bet on companies with no earnings or trajectory to earnings seem foolish and reckless.
Zoom mulls $1.5 billion share sale at 10 times above its IPO price
The company plans to sell 4.4 million new shares at $337.71 a piece January 13, 2021 / 09:33 AM IST
Video Conferencing major Zoom on January 12 said it plans to raise $1.5 billion in a secondary share sale.
The company plans to sell 4.4 million new shares at $337.71 a piece, valuing the stock more than 10 times its debut price of $36 less than two years ago.
The company came into the limelight in 2020 when most companies were forced into remote working following the onset of COVID-19. Since becoming a household name last year, the stock has quintupled in value.
Nasdaq composite: 13,072.43, up 0.28%
Shambolic vaccine distribution across the US has also cut into some investors recovery outlooks. CNBC reported Tuesday morning that the Trump administration will issue updated vaccination guidance that expands eligibility to everyone 65-years-old and older. The move comes after some states discarded vaccines instead of using them on ineligible populations. Vaccine rollouts have been messy, but as more vaccines get regional approval, risk appetite is thriving as we get closer to the other side of COVID, Edward Moya, senior market analyst at Oanda, said.
The mild uptick comes after stocks stumbled to start the week. Equities fell from record highs on Monday as investors weighed the impact of an impeachment vote and stretched valuations. Facebook and Twitter dragged on major indexes as investors balked at the companies moves to ban permanently Trump.