Plus, Zoom enables businesses to cut back on travel, which was a pitch it made long before it went public. Many people in professional services jobs and other high-paying fields, with more leverage and the ability to change jobs more easily, found remote work life beneficial. Despite the slow return to offices-hampered by the delta variant-hybrid environments where people come in two to three days a week could possibly become the new normal for countless companies. Zoom remains essential to many businesses and other entities even as friends and family video chats have slowed down. The company’s sales skyrocketed 326% last year to $2.7 billion, driven by thousands of new paying clients. Zoom’s software then took off during the pandemic, as businesses and countless others raced to its video communication solutions.

ZM’s revenue surged 88% during its first-year public after its April 2019 debut. The question now becomes is it finally time to buy Zoom stock again with its third quarter fiscal 2022 financial results due out on Monday, November 22. Luckily, it’s still poised to grow within a vital non-email work communication space. Nonetheless, it was always going to be impossible for Zoom to match its pandemic-fueled success. Wall Street has dumped ZM on slowing growth, and it didn’t help that the video communication firm’s planned acquisition of Five9 Inc (FIVN) fell apart. Zoom Video ZM stock has tumbled over 50% from its 2020 records, including a 20% drop since its Q2 release in late August.

Zoom stock rsi