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.
Key figures from the third-quarter reportįew companies fared better than Zoom Video Communications (ZM) throughout the Covid-19 pandemic. Backing the new age asset class, he said crypto adds a much-needed diversification and alpha-generating potential to any portfolio. Many hyped coins today might not remain in existence by the end of the decade, Patel warned. However, industry trackers said investors must pick fundamentally sound coins and not just follow the latest fad. "Cryptocurrency and blockchain have the potential to streamline multiple industries starting from financial services, supply chain management to media industry," Patel said.Ī more modest and grounded expectation for the industry will be to become an alternative asset class that every investor considers as a part of his portfolio and allocates an increasing share to, suggested Subburaj. Market experts believe that crypto adoption could rise exponentially, with the asset class likely to give better returns over the next 10 years compared to gold and equities. The market cap of the digital asset class has taken a hit of 20-25 per cent from its all-time peak level and is barely holding above the $2 trillion mark. However, no asset class can rise in a linear trajectory. A wild upswing from current levels should not be surprising given a rapid rise in institutional investments in cryptos over the past few years," he added. "Cryptos with multiple use cases are gaining massive adoption and are going big. Crypto can grow in adoption and become a part of billions of lives where every transaction, including payments, are done through blockchain technology, he added.Įdul Patel, CEO and Co-founder of Mudrex, said he will not be surprised if this unfathomable number turns into a reality.
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