How high can the Zoom share price possibly go?
The video conferencing company’s shares have spiked since the start of the coronavirus outbreak, with the stock close to exceeding all analysts price forecasts.
Zoom Video Communications shares have soared 107% since the start of the year, with the video conferencing company surging in popularity as people around the world are forced to work from home amid the coronavirus outbreak.
The stock is trading $14 as of 18:15 (GMT) on Tuesday, outperforming the broader market, with the S&P 500 down 31% year-to-date, while the Nasdaq Composite is down 24% over the period.
Looking to trade Zoom? Open a live or demo account with IG today.
Zoom close to exceeding all analysts’ price forecasts
Zoom has performed so well over the last two months that it is close to exceeding all analysts’ price forecasts for 2020 already.
Based on 16 analysts offering 12-month price forecasts, the median price target for the stock is $102.50, with the highest estimate sitting at $150 a share. As it stands, the stock is trading 28% higher than the median price forecast.
You can go long or short Zoom with IG using derivatives like CFDs.
Coronavirus drives downloads of Zoom Video
Zoom has surged in popularity amid the Covid-19 pandemic due to governments encouraging people to practice social distancing and work from home to prevent the spread of the virus.
In the US alone, the video conferencing company topped iPhone daily downloads among business applications, according to data compiled by the analytics firm, App Annie.
Only one week ago, Zoom’s cloud meeting app ranked in at number 11 on Apple’s app store, with it all the way down at number 87 just two weeks prior.
Its growing popularity among businesses amid the global pandemic has helped its share price skyrocket above its initial public offering (IPO) price of $36 a share back in April last year, with the stock up nearly 300% since then.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
