Zoom Stock Is a Buy After Upgrading Its Profit Outlook

Shares of early pandemic darling Zoom Video Communications (NASDAQ: ZM) have begun to show signs of life again in recent weeks. Shares have rebounded 24% since the company provided an update on its fiscal 2023 first-quarter financials on May 23 -- though they remain some 80% off their all-time high.

The reason for the pop has a lot to do with Zoom upgrading its projection for profit in the next year. After a horrific nearly two-year run for Zoom stock after peaking in late 2020, I'm still interested in nibbling here.

Image source: Getty Images.

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Source Fool.com