Zukin’s financial model calls for growth to drop to 9% in fiscal 2023-below the company’s own forecast-and 8% in fiscal 2024. He also thinks there is a growing probability that Zoom will make “dilutive” acquisitions as it pushes to expand its range of offerings. Zukin said in a research note that he remains confident in Zoom’s ability to build a unified communications platform that includes elements beyond videoconferencing, but that he has “less visibility and conviction” regarding near-term top line growth and free cash flow margins. The company is projecting that revenue growth this year will slow to about 11%, down from 55% in the year ended in January 2022, and below the former Wall Street consensus forecast for 15.5% growth.
On Monday, Zoom (ticker: ZM) posted January quarter results that edged past Wall Street’s expectations, but provided disappointing forecasts for both the April quarter and the full year ending in January 2023. The stock is down nearly 80% since its October 2020 peak, due to a combination of slowing growth and reduced valuation multiples for technology stocks.
0 kommentar(er)
