ZOOM attractive levels to watch out.
Zoom Video Communications
The video communications specialist Zoom Video Communications (NASDAQ:ZM) didn't pay a dividend and didn't repurchase any shares during 2020. But shareholders made billions by just holding the stock throughout the year. The stock price increased by 501% during that time frame, which corresponds to an increase in the market cap of $98.2 billion.
As the need for remote communications surged during the coronavirus pandemic, consumers and enterprises massively adopted Zoom's simple and easy-to-use video communications platform. Given its sudden and unexpected success, the company faced several significant cybersecurity challenges during the first half of the year, but that hasn't scared users away.
In addition to dealing with its security issues, the company has been expanding its core video communications offering into a unified communications platform, partly thanks to its recent Zoom Phone offering. As an illustration, this year, the research outfit Gartner included Zoom for the first time in its magic quadrant for unified communications as a service, positioning the company as a leader based on its ability to execute and its completeness of vision.
As a result of this strong execution, the number of Zoom customers with more than 10 employees surged by 485% year over year to 433,700 during the last quarter, which led to stellar year-over-year revenue growth of 367% to $777 million.
The video communications specialist Zoom Video Communications (NASDAQ:ZM) didn't pay a dividend and didn't repurchase any shares during 2020. But shareholders made billions by just holding the stock throughout the year. The stock price increased by 501% during that time frame, which corresponds to an increase in the market cap of $98.2 billion.
As the need for remote communications surged during the coronavirus pandemic, consumers and enterprises massively adopted Zoom's simple and easy-to-use video communications platform. Given its sudden and unexpected success, the company faced several significant cybersecurity challenges during the first half of the year, but that hasn't scared users away.
In addition to dealing with its security issues, the company has been expanding its core video communications offering into a unified communications platform, partly thanks to its recent Zoom Phone offering. As an illustration, this year, the research outfit Gartner included Zoom for the first time in its magic quadrant for unified communications as a service, positioning the company as a leader based on its ability to execute and its completeness of vision.
As a result of this strong execution, the number of Zoom customers with more than 10 employees surged by 485% year over year to 433,700 during the last quarter, which led to stellar year-over-year revenue growth of 367% to $777 million.