The share price of Zoom Video Communications (ZM) skyrocketed in fiscal year (FY) 2021 but has plunged 45.5% in FY 2022. The stock is underperforming the S&P 500, which gained 26.9% over the same period. This correction is expected, as the demand for virtual conferencing has declined with an improving economy. Although revenues cannot be expected to accelerate at the same pace of 325.8% as in FY 2021, the company is still in a high-growth phase. Zoom is one of the leading enterprise video communication providers. Its cloud platform allows video and audio conferencing, chat, and webinars across mobile, desktop, and room systems.
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