Zoom stock sets new price records amid the pandemic

It is expected that the demand will keep on growing even after the coronavirus outbreak eases

Zoom stock

Zoom stock sets new price records amid the pandemic. Source: shutterstock.com

According to LearnBonds, Zoom stock price has increased by 110% since January due to the necessity of remote work. The data revealed that Zoom has now achieved a market capitalization of almost $41 billion and its daily US active users volume hit 4.8 million at the end of March.

The demand for Zoom is set to remain robust in April and beyond, as lockdown periods imposed by governments seem likely to be lengthy. Zoom’s demand to continue even after the pandemic eases since companies will want to be prepared to handle disruptions in the future
Sterling Auty, JPMorgan analyst 

The research also highlights Zoom is well set to sustain 40% annual revenue growth by 2025. Earlier in Q4 2019, the company had generated 78% year over year revenue growth.

Earlier, the company has had security issues, including a vulnerability that allowed an attacker to remove attendees from meetings, spoof messages from users along with hijack shared screens. In addition to that, Zoom is being sued for allegedly giving users’ personal data to third companies including Facebook without fully informing customers.

SEE ALSO:

 

facebook