The fourth and final cloud stock billionaires can't get enough of is Zoom Video Communications (NASDAQ:ZM). Aggregate ownership by 13F filers in Zoom only rose by a little over 3% during the fourth quarter. However, this doesn't stop Blackrock, Susquehanna, or Ken Griffin's Citadel Advisors from buying 1.8 million, 1.19 million, and roughly 714,000 shares, respectively.
Zoom was a clear and obvious beneficiary of the pandemic. When offices closed, businesses big and small began turning to Zoom's leading cloud-based Web conferencing platform to stay in touch and move projects along. The $2.65 billion the company generated in full-year sales was almost three times what the company had originally forecast for sales in fiscal 2021 (i.e., before the pandemic hit).
This is a company whose conferencing solutions are unrivaled. As of April 2020, it had more than a 42% share of U.S. web conferencing. For context, that was about 24 percentage points higher than its next-closest peer. Even with an aggressive vaccination campaign underway in the U.S., Zoom isn't going away when things normalize. We've witnessed a somewhat permanent shift in how businesses operate, and Zoom's solutions can make companies more efficient.
According to Wall Street's consensus estimates, Zoom has the potential to nearly quadruple its sales to north of $10 billion over the next four years. If this figure proves accurate, shares of the company are still a bargain.
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The fourth and final cloud stock billionaires can't get enough of is Zoom Video Communications (NASDAQ:ZM). Aggregate ownership by 13F filers in Zoom only rose by a little over 3% during the fourth quarter. However, this doesn't stop Blackrock, Susquehanna, or Ken Griffin's Citadel Advisors from buying 1.8 million, 1.19 million, and roughly 714,000 shares, respectively.
Zoom was a clear and obvious beneficiary of the pandemic. When offices closed, businesses big and small began turning to Zoom's leading cloud-based Web conferencing platform to stay in touch and move projects along. The $2.65 billion the company generated in full-year sales was almost three times what the company had originally forecast for sales in fiscal 2021 (i.e., before the pandemic hit).
This is a company whose conferencing solutions are unrivaled. As of April 2020, it had more than a 42% share of U.S. web conferencing. For context, that was about 24 percentage points higher than its next-closest peer. Even with an aggressive vaccination campaign underway in the U.S., Zoom isn't going away when things normalize. We've witnessed a somewhat permanent shift in how businesses operate, and Zoom's solutions can make companies more efficient.
According to Wall Street's consensus estimates, Zoom has the potential to nearly quadruple its sales to north of $10 billion over the next four years. If this figure proves accurate, shares of the company are still a bargain.