Meanwhile, management is focused on growing the product’s ecosystem. Analysts concur that Zoom, which leads the video conferencing market, will benefit from such an increase in global revenues. Such an increase would mean a compound annual growth rate (CAGR) of 15.5%. Yet, the global industry is forecast to reach $24.4 billion in 2028. However, as online meetings decrease in numbers, the company may not be able to repeat this stellar performance in the coming quarter.
As a result, in fiscal 2021, revenue reached $2.7 billion, up 326% year-over-year (YoY). ZM stock ’s 52-week range is $79.03-$406.48, while the market capitalization currently stands at $26.7 billion.Ĭalifornia-based Zoom became a household name during the 'work-from-home' days of the coronavirus pandemic, in part, due to its user-friendly format. Since then, it has been a painful ride lower.Īs workers started returning to the office, on May 12 the stock hit a multi-year low of $79.03.
In October 2020, Zoom stock was changing hands just shy of $590, a record high. Meanwhile, the ARK Innovation ETF (NYSE: ARKK), which has about 8% of its portfolio in ZM shares, is down 54.3% since January.
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