2024-01-05 12:40:27 ET
Zoom Video Communications ( NASDAQ: ZM ) shares were on track for their seventh consecutive session of losses on Friday, as the stock fell 0.5% to $66.56 in afternoon trade, its lowest since Nov.27 last year.
The California-based videoconferencing platform lost about 9% in the preceding six sessions. Overall, the stock lost 1% in the last one year.
Looking at Seeking Alpha's Quant Rating, ZM has a Strong Buy rating with a score of 4.63 out of 5. The company received an A+ for revisions and A for profitability, while it got a C for momentum.
Turning to the Wall Street community, 6 analysts gave ZM a Strong Buy, while three rated it Buy. 22 analysts have given the stock a Hold recommendation, while one analyst gave it a Strong Sell rating.
Seeking Alpha analysts are also cautious and see the stock as a Hold.
Seeking Alpha analyst Daan Rijnberk said Zoom continues to face challenges in the videoconferencing industry, with increasing competition from Microsoft Teams and other established players.
“ZM’s FQ3'24 underwhelming performance and FQ4'24 guidance further demonstrate its lack of growth prospects,” pointed out another recent Seeking Alpha analysis, adding that despite stable profitability and healthy balance sheet, “ZM is likely to underperform in the intermediate term until a growth driver can be found.”
December has been a mixed month for the company, with 10 sessions in green and 10 sessions in red.
More on Zoom
- Zoom Video Communications: Why I Reiterate My Buy Rating
- Zoom Video Communications: Minimal Growth Left - Normalization Is Here
- Zoom Video: Why I Maintain My Sell Rating
- Microsoft is Wells Fargo's top software pick for 2024 as bank cuts Salesforce, others
- Biggest stock movers today: BlackBerry, Zoom Video, Cigna, Macy's, crypto stocks and more
For further details see:
Zoom shares set for seventh straight session of losses