2024-03-03 07:20:00 ET
Investors may have reawakened to the potential of Zoom Video Communications (NASDAQ: ZM) . Its performance has lagged since the pandemic-induced bump in usage sent its stock to an intraday high of almost $589 per share in late 2020.
The stock sells at nearly a 90% discount to that peak, and since that time, the company has redefined itself more explicitly around a communications ecosystem. Those improvements inspired Cathie Wood's Ark Invest to forecast an expected price of $1,500 per share by 2026.
Given the company's recent growth, even the Ark Invest bear case of $700 per share in 2026 seems doubtful. Nonetheless, investors may want to still consider buying Zoom stock for three key reasons.
For further details see:
3 Reasons to Consider Zoom Video Communications Stock Right Now