A 19 October peak of $588.84 represented a share price up more than sixfold compared to April's figures.ĭespite more pronounced bearish dips in the following 12 months, moving averages still continued to rise, propelled by rising support and resistance lines clearly evident on the chart. Zoom’s share value was actually flagging in the run up to April 2020, when it still remained a relatively small player in the world of video conferencing.Ĭome global lockdown, the chart proceeded to show continual and dramatic bull patterns, including a skyrocketing 40.7% closing price on 1 September.Īlthough bears cut this figure down somewhat, Zoom stock continued to climb. Zoom’s share price performance over the past couple of years traced the ebb and flow of global lockdown measures. Outlook for the non-GAAP earnings per shareis $4.84 to $4.85, based on 306 million shares outstanding. According to Kelly Steckelberg, Zoom's chief financial officer, the company expects 2022 fiscal revenue to be in the range of $4.079bn to $4.081bn, which would mean 54% year-over-year growth, up from the August guidance of 51%. The quarterly results left the company feeling positive about its immediate future. The all important earnings per share (EPS) figure was also better than expected, coming in at $1.11. Operating cash flow was marginally lower compared to the second quarter, driven by increased marketing and research and development expenses. At time of writing, ZM is 11.15% down day-on-day and continues to slump at time of writing, currently trading at $201. Zoom's shares went south on 22 November, opening lower still the following day. Investors responded cautiously to this decelerating growth rate.
Although this is a strong figure in general terms, it pales in comparison to last year’s 367% growth rate. The bottom line exceeded both internal guidance and independent Zoom stock predictions by a healthy margin, as total revenues grew 35% year-on-year to $1.05bn. Key figures from the third-quarter report Increasing competition in the sector, coupled with lockdown restrictions being eased, pared back the Zoom share price forecast among analysts.Ĭan Zoom prove to be more than a Covid-19 stock? We dive into the key quarterly figures and look into the Zoom stock forecast. But despite these impressive gains, investor confidence has cooled-off somewhat recently. The company's shares skyrocketed accordingly, nearly tripling in value between April and October. The California-based teleconferencing platform went from a fairly successful unicorn to part of the pandemic lexicon in a few short months, increasing its daily meeting participants 30-fold and posting year-on-year revenue growth above the 360% mark.
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