5 Best Aggressive Stocks To Buy Now

3. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Hedge Fund Holders: 59

Zoom Video Communications, Inc. (NASDAQ:ZM) went on a record rally through the pandemic as businesses were forced to shift to digital. Since vaccinations have allowed for the resumption of normal activity, the stock has slumped in value. In the past twelve months, it is now down 38%. However, the company has been busy monetizing the platform and focusing on enterprise solutions to reinvent itself.  

Zoom Video Communications, Inc. (NASDAQ:ZM) stock recently soared by 40% after JPMorgan upgraded it to Overweight from Neutral with a price target of $385, noting that the stock may fall further in the coming months and offer investors a better risk/reward profile. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Tiger Global Management LLC is a leading shareholder in Zoom Video Communications, Inc. (NASDAQ:ZM) with 4.2 million shares worth more than $1.6 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Zoom Video Communications, Inc. (NASDAQ:ZM) was one of them. Here is what the fund said:

“We concluded our campaigns in Zoom Video Communications. We have been paring our position in Zoom for several quarters, anticipating the reduced need for video conferencing as vaccination rates climb and people return to their workplaces. That said, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—sustainably higher remote work arrangements, more online learning and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YoY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we decided to end our successful investment campaign in favor of opportunities in our pipeline with more attractive near-term growth prospects.”