But if I'm right - and I really do expect Zoom's stock to become cheaper over the next few months - you'll thank me for the reminder to have some dry powder available. LogMeIn recently updated its GoTo portfolio by bringing forward a completely new experience for GoToMeeting. I could be wrong about the imminent price drops, which is why you want to get started at today's lofty prices. Startup companies Whereby, Mikogo, GoToMeeting, and. Slack, which listed in 2019 like Zoom, is also a competitor. With that in mind, I would suggest buying a few Zoom shares today and preparing to buy more if and when the predicted price drops arrive. The stocks weakened in November following positive news about COVID-19 vaccine. The stock might run into a couple of significant drops along the way as investors weigh the long-term growth plan against the sudden lack of short-term profits.
It has a variety of other products, including remote access tools. I wouldn't be surprised to see the bottom line dip back into the red ink in 2021 and beyond as Zoom leans into maximizing its revenue growth while the iron is hot. The company bought GoToMeeting from Citrix in 2016 for 1.8 billion. Zoom is doing all of that, but the company is already profitable anyway. The big profits can wait - this is the time to invest every spare penny into growth-boosting business ideas, a rising headcount, a bigger marketing splash, and so on. Then again, growth investors don't mind paying a premium for companies with a history of skyrocketing sales growth. Shares are changing hands at 56 times trailing sales, 261 times trailing earnings, and 71 times the company's book value right now. There's no denying that Zoom's stock is costly, even after the vaccine-inspired correction. The Zoom service is easier to use than Cisco Systems' ( CSCO -0.81%) WebEx, has more features than Alphabet's ( GOOG -0.55%) ( GOOGL -0.61%) Google Hangouts, and works on a much wider range of devices than Apple's ( AAPL -0.28%) FaceTime. Zoom is far from the only video communications game in town, but the platform quickly became the go-to solution. People found the digital experience to be a reasonable replacement for meeting distant family members in person. Schools started running classes over Zoom. Office workers and their employers needed a user-friendly way to run business meetings on ordinary web cameras. Evaluate their financials based on GoToMeetings post-money valuation and revenue.
Zoom's stock soared in the spring as millions of people found themselves stuck at home during the coronavirus lockdowns. See GoToMeeting funding rounds, investors, investments, exits and more. Is this a good time to invest in Zoom at a bit of a discount? The story so far Today, Zoom's returns have calmed down to 425%. In mid-October, the video conference specialist's stock peaked at a year-to-date gain of 817%. Analysts were forecasting fourth-quarter billings of $705.4 million, according to FactSet.Shares of Zoom Video Communications ( ZM 0.88%) have been cooling down in recent months. At group meetingsusually held monthlymembers pool their investments dollars, review studies of stocks presented by club members, and select one or more stocks to buy. DocuSign expects fourth-quarter billings of $647 million to $659 million. An investment club is a small group of individual investors who come together to learn, share investing experiences and help each other become more successful investors. 31, the company said it expects revenue of $557 million to $563 million, below analysts’ expectations of $573.8 million. The stock has slowly started to rebound, drawing bargain hunters like Cathie Wood’sįor the fiscal fourth quarter ending Jan.
“The magnitude of the selloff is not surprising considering the thesis change underpinning the story,” Zlotsky wrote. CEO Dan Springer said the company “after six quarters of accelerated growth” was seeing “customers return to more normalized buying patterns.”Īnalysts called the report “one of the biggest whiffs in recent memory.” Investors felt similarly, with the stock plunging 42% on Dec.
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He also lowered his total revenue estimates for the 2023 fiscal year to $2.55 billion, down from $2.61 billion.ĭocuSign stock was down 3.7% to $145.46 Thursday.Įarlier this month, DocuSign reported third-quarter earnings that showed signs of weakening demand. Download GoTo Meeting Now The GoTo desktop application allows you to access all of our great collaboration tools including drawing tools and multi-monitor screen sharing. The analyst revised his billings estimates for the 2022 fiscal year to $2.3 billion down from $2.4 billion.
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