Buy Signal on Zoom (ZM-US)
Zoom, is a $ 92.1 Bn market cap, which specialises in the provision of teleconferencing services. The group provides a remote communication platform combining videoconferencing, voice, audio, screen sharing, chat functionality, etc. on desktop computers as well as telephones and mobile devices.
Zoom is one of the clear winners from the acceleration of digital transformation that has occurred because of the pandemic. In Q1-21, Zoom video closed their largest deal ever in terms of recurring revenues, with a leading global financial services firm that selected Zoom Meetings to deploy for over 90,000 hosts.
Zoom is currently innovating new products to help their customers evolve into the hybrid work model. Zoom Phone for exemple is a modern cloud-based phone system that can make and receive calls directly from Zoom. This service also serves as the last piece that Zoom needed to become a full fledged UCaaS platform designed to solve the needs of large enterprise customers.
International markets are a key growth driver and showed strong growth during the quarter. Americas revenue grew 159% year-over-year. The combined APAC and EMEA revenue grew 288% year-over-year to become approximately 34% of revenue, up from 25% a year ago.
Short term catalyst : new products, international development.
This signal looks consistent with the US Software sector in Major Bullish Trend.