Zoom Video Communications, Inc. (ZM - Free Report) was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 28.3% in the past one-month time frame.
This move can be attributable to growing popularity of Zoom’s video calling services amid COVID-19 crisis wherein people have been compelled to stay indoors and work from home.
The company has seen six positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Zoom. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Zoom currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Zoom Video Communications, Inc. Price and Consensus
A better-ranked stock in the Internet – Software industry is Cloudera, Inc. (CLDR - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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