Zoom had carved a place as the go-to source for work-at-home employees and family and friends desperate for social interaction during the COVID-19 pandemic and resulting quarantine that began on March 19, 2020, with California as the first state to issue a stay-at-home order. In March 2020, the company logged 200 million daily users, CNBC reported. The company raised $752 million from its initial public offering, according to Investor’s Business Daily.īut it was nearly a full year later that the video conferencing app began to show its real potential. The company went public on April 18, 2019, with the stock closing up 72% from the opening bid and trading at $62. It quadrupled those numbers by February 2015.
By June 2014, users had zoomed up to 10 million.
The business app showed promise, with a million Zoom users logged in by May 2013, according to the Business of Apps website. The company, founded by Eric Yuan, changed its name to Zoom Video Communications in 2012 and launched the Zoom video conferencing app in January 2013. ZM Price Action: Zoom has a 52-week high of $184.91 and a 52-week low of $79.03.Zoom was incorporated as Saasbee Inc. Morgan Stanley analyst Meta Marshall maintained Zoom with an Overweight and lowered the price target from $140 to $130.Wells Fargo analyst Michael Turrin maintained Zoom with an Equal-Weight and lowered the price target from $105 to $95.Goldman Sachs analyst Kash Rangan maintained Zoom with a Neutral and lowered the price target from $142 to $122.RBC Capital analyst Rishi Jaluria maintained Zoom with an Outperform and lowered the price target from $150 to $130.
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