Zoom Stock (ZM) IPO Update: How Has Zoom (ZM) Performed After Its IPO?
Zoom Video Communications, Approved for Listing on Nasdaq Under Thickest (ZM), Opened First Trading Session on April 18e, 2019, the same day Pinterest (PINS) also went public.
Pinterest has had an incredibly successful trading session with a 28% share price increase, however, Zoom stock has jumped 80% already on the first day of its IPO sale.
Zoom Stock (ZM) Share price and estimates
Zoom planned to start the first trading session at a price range between $ 28 and $ 32 per share, then change the price range of the share to a value between $ 32 and $ 35, and then decide to ‘open the trade at $ 36.
Despite the plan, the company saw an 80% increase, meaning that Zoom hit the 62% price at the very start of the April 18 trading session.e.
The stock reached the highest value of $ 66.70 on April 25e, however, it traded at $ 65 just a day later.
Yet analysts monitoring Zoom’s performance indicate that the stock will continue to grow.
Investors exhibit strong demand for Zoom (ZM) shares
The fact that Zoom Video Communications is one of the few tech companies whose IPOs are already showing strong profitability.
With 7.6 million bookings recorded in 2018, Zoom seemed to have underestimated the value of its inventory, which is why the price has jumped 80% in such a short time.
Zoom Financial Reports (ZM)
Zoom announced its revenue for fiscal 2019, which includes the period January 2018 to January 2019, recording $ 330 million at 118% year-over-year increase.
Additionally, Zoom reported cash flow of $ 51 million for 2019, generating a net profit of $ 7.6 million.
The company reported losses of $ 3.8 million for the same period, while Zoom is in a very profitable industry in cloud and SaaS services.
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