The Covid-19 vaccines have restored optimism in the market, with many expecting things to go back to normal within the next few quarters. Zoom is now one of the fastest-growing technology stocks in the market, but some might be expecting it to slow down in 2021. Net income for the quarter soared to $198.6 million, compared to $25.3 million reported last year. In its fiscal third-quarter 2021 results announced at the end of November, Zoom posted a top line of $777.2 million, which is higher than the total revenue reported for the entire fiscal year 2020. The company has already established itself as one of the preferred options for virtual business communication, putting it in a good position to capitalize on opportunities as they arise. In fact, if Gates' assessment should come to pass, then it would be ideal to say that Zoom is currently undervalued. Therefore, even as shares of Zoom trade at a notably high price-earnings ratio of about 234, there could be still some room left to run going into 2021. He also said that 30% of the American workforce will work from home as companies continue to embrace virtual offices and flexible working environments.

Gates said in November that companies will cut business travel by half within the next few years in favor of virtual communication via video streaming platforms like Zoom.

Will zoom stock go up