Zoom's Growth Rate Falls Below 10%: Time to Sell the Stock?
Zoom Video Communications' (NASDAQ: ZM) growth rate hasn't stabilized yet. The company, which saw its annual sales soar in earlier phases of the pandemic, recently announced surprisingly weak revenue trends heading into the second half of 2022.
Management said in a conference call with Wall Street pros following the release of its fiscal 2023 second-quarter earnings (for the quarter ending July 31) that Zoom is "not immune to the global downturn" that is pressuring its consumer-focused segment. Yet the company is doubling down on its enterprise division as the key growth avenue.
Let's look at whether Zoom's stock is still attractive, given the cloudy short-term outlook.
Source Fool.com
