Could Zoom Be One of the Best Stock Buys for 2023?
This was the year Zoom Video Communications (NASDAQ: ZM) stopped being a growth stock and became a value stock. Nearly 90% off of all-time highs, shares trade for just 17 times trailing-12-month free cash flow as of this writing. Zoom could be a best buy for 2023 for those investors looking for a deal.
But "value" is subjective. One investor's treasure is another's trash, and plenty of shareholders decided to toss out Zoom in the last year. As the bear market enters its second year, is it time to give this former software darling another look?
Zoom is anticipating another rough quarter to close out its 2023 fiscal year (the 12 months that will end in January 2023). In the fourth quarter, revenue is expected to rise about 3% year over year, a pitiful increase compared to the double- and triple-digit growth for most of its life since its intial public offering in early 2019.
Source Fool.com
