Zoom is 'leading the shift to a more virtual work paradigm,' Needham says

Eric Yuan, founder and chief executive officer of Zoom Video Communications, at right, speaks with Jay Heller, head of capital markets & initial public offering execution of Nasdaq, during the company's IPO at the Nasdaq MarketSite in New York on April 18, 2019.
Victor J. Blue | Bloomberg | Getty Images

One video conferencing company is using the rapid rise of working from home to prove its mettle, and Needham says it still has further to climb.

Zoom Video has become a popular pick for investors as the coronavirus pandemic has forced companies to increase the number of employees working remotely. Needham said in a note to clients that the stock is "leading the shift to a more virtual work paradigm" and could see rapid growth over the next five years, giving the stock a buy rating.