![]() This is in line with my personal valuation. ![]() Currently trading at one-year forward P/E of about x27, I see a downward correction to x20 as fair-which would imply about 27% downside. Accordingly, the company’s earnings multiple should contract. Growing revenues at a rate of less than 10% year over year, which is below the performance of most tech stocks, Based on the recent results, it seems that Zoom may not be able to maintain its status of the growth company. The market’s first reaction is perfectly justified, I argue. ![]() Zoom ( NASDAQ: ZM) reported earnings for the June quarter on August 22, and the stock plunged by more than 8% following the announcement (after hours reference).
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