Zoom Video Communications‘ (NASDAQ: ZM) share price has fallen by 63% from its all time high. In fact, the share price is back to where it was in June 2020.
Slowing growth and concerns about the impact of workforces’ return to offices are likely culprits for the waning investor appetite for Zoom’s shares.
But at this level, Zoom looks attractive to me now. Here’s why.
Zoom Phone has huge potential
Most of you reading this are likely familiar with Zoom’s flagship product, Zoom Meeting, a video conferencing software. But there’s more to Zoom.
The company has communications software built specifically for large companies, one of which is Zoom Phone. This is a unified communications tool for enterprises that allows them to interact with customers in a variety of ways and gives them the flexibility for services such as voicemail, call recording, call detail reports, call queueing, and more. Zoom Phone can replace legacy tools that enterprises used in the past.