Zoom Communications (ZM)
Market Price (7/28/2026): $91.86 | Market Cap: $27.0 BilSector: Information Technology | Industry: Application Software
Zoom Communications (ZM)
Market Price (7/28/2026): $91.86Market Cap: $27.0 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 7.3% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 41%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 40%, CFO LTM is 2.0 Bil Stock buyback supportStock Buyback 3Y Total is 3.1 Bil Low stock price volatilityVol 12M is 44% Megatrend and thematic driversMegatrends include Cloud Computing, Digital Health & Telemedicine, and Future of Work. Themes include Software as a Service (SaaS), Show more. | Weak multi-year price returns3Y Excs Rtn is -33% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% Key risksZM key risks include [1] eroding customer retention due to intense competition from bundled tech giants, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 7.3% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 41%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 40%, CFO LTM is 2.0 Bil |
| Stock buyback supportStock Buyback 3Y Total is 3.1 Bil |
| Low stock price volatilityVol 12M is 44% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Digital Health & Telemedicine, and Future of Work. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns3Y Excs Rtn is -33% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Key risksZM key risks include [1] eroding customer retention due to intense competition from bundled tech giants, Show more. |
Qualitative Assessment
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Zoom Communications (ZM) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Zoom (ZM) reported stronger-than-expected financial results for its fiscal Q1 2027, which ended April 30, 2026, and provided an optimistic outlook. The company's total revenue reached $1,239.0 million, marking a 5.5% year-over-year increase and surpassing its guidance. Enterprise revenue specifically grew by 7.2% year over year to $755.7 million. Non-GAAP earnings per share (EPS) of $1.55 exceeded analyst forecasts by $0.13. Following these results, Zoom raised its full fiscal year 2027 revenue guidance to a range of $5.080 billion to $5.090 billion and increased its non-GAAP EPS outlook to $5.96 to $6.00. The company also authorized an additional $1.0 billion for common stock repurchases.
2. The company demonstrated significant momentum in AI-driven product adoption and continuous innovation. Zoom highlighted increasing customer adoption of its platform as an "AI-first system of action for modern work". Notably, AI Companion paid users surged by 184% year over year, and the "My Notes" feature achieved 1.5 million licensed users within just four months of its launch. Furthermore, Zoom expanded its API access to all customers, including trial accounts, enhancing integration with automation platforms like Zapier, which enables automated workflows without extensive IT projects.
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Zoom Communications (ZM) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Zoom (ZM) reported stronger-than-expected financial results for its fiscal Q1 2027, which ended April 30, 2026, and provided an optimistic outlook. The company's total revenue reached $1,239.0 million, marking a 5.5% year-over-year increase and surpassing its guidance. Enterprise revenue specifically grew by 7.2% year over year to $755.7 million. Non-GAAP earnings per share (EPS) of $1.55 exceeded analyst forecasts by $0.13. Following these results, Zoom raised its full fiscal year 2027 revenue guidance to a range of $5.080 billion to $5.090 billion and increased its non-GAAP EPS outlook to $5.96 to $6.00. The company also authorized an additional $1.0 billion for common stock repurchases.
2. The company demonstrated significant momentum in AI-driven product adoption and continuous innovation. Zoom highlighted increasing customer adoption of its platform as an "AI-first system of action for modern work". Notably, AI Companion paid users surged by 184% year over year, and the "My Notes" feature achieved 1.5 million licensed users within just four months of its launch. Furthermore, Zoom expanded its API access to all customers, including trial accounts, enhancing integration with automation platforms like Zapier, which enables automated workflows without extensive IT projects.
3. Analyst sentiment turned increasingly positive, leading to reiterations of "Buy" ratings and upward revisions of price targets. Multiple Wall Street analysts maintained or upgraded their ratings on ZM stock to "Buy". The average analyst price target stands at approximately $115.06, suggesting a 30.77% potential upside from a recent closing price of $87.99 (as of July 22, 2026). Other forecasts placed the median price target around $119.00, implying a 41.5% upside from a trading price of $84.11 (as of July 24, 2026).
4. A favorable broader market environment for technology stocks, particularly in AI, provided a tailwind. The second calendar quarter of 2026 (corresponding to Zoom's fiscal Q2 2027 for May and June) saw global equity markets, including the S&P 500, experience significant gains. This market rally was partly fueled by a surge in AI infrastructure spending and robust earnings within the technology sector. Additionally, easing geopolitical tensions, such as a ceasefire in the Middle East and a subsequent drop in oil prices, contributed to an overall optimistic market sentiment.
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Stock Movement Drivers
Fundamental Drivers
The 13.5% change in ZM stock from 3/31/2026 to 7/27/2026 was primarily driven by a 7.6% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 80.39 | 91.22 | 13.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,869 | 4,933 | 1.3% |
| Net Income Margin (%) | 39.0% | 42.0% | 7.6% |
| P/E Multiple | 12.5 | 13.0 | 3.3% |
| Shares Outstanding (Mil) | 297 | 294 | 0.7% |
| Cumulative Contribution | 13.5% |
Market Drivers
3/31/2026 to 7/27/2026| Return | Correlation | |
|---|---|---|
| ZM | 13.5% | |
| Market (SPY) | 13.6% | 13.4% |
| Sector (XLK) | 31.2% | 13.0% |
Fundamental Drivers
The 5.7% change in ZM stock from 12/31/2025 to 7/27/2026 was primarily driven by a 26.6% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 86.29 | 91.22 | 5.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,806 | 4,933 | 2.6% |
| Net Income Margin (%) | 33.2% | 42.0% | 26.6% |
| P/E Multiple | 16.2 | 13.0 | -19.8% |
| Shares Outstanding (Mil) | 299 | 294 | 1.4% |
| Cumulative Contribution | 5.7% |
Market Drivers
12/31/2025 to 7/27/2026| Return | Correlation | |
|---|---|---|
| ZM | 5.7% | |
| Market (SPY) | 8.7% | 21.8% |
| Sector (XLK) | 21.2% | 20.7% |
Fundamental Drivers
The 17.0% change in ZM stock from 6/30/2025 to 7/27/2026 was primarily driven by a 88.2% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 77.98 | 91.22 | 17.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,699 | 4,933 | 5.0% |
| Net Income Margin (%) | 22.3% | 42.0% | 88.2% |
| P/E Multiple | 22.7 | 13.0 | -42.8% |
| Shares Outstanding (Mil) | 305 | 294 | 3.6% |
| Cumulative Contribution | 17.0% |
Market Drivers
6/30/2025 to 7/27/2026| Return | Correlation | |
|---|---|---|
| ZM | 17.0% | |
| Market (SPY) | 20.6% | 27.2% |
| Sector (XLK) | 38.2% | 22.8% |
Fundamental Drivers
The 34.4% change in ZM stock from 6/30/2023 to 7/27/2026 was primarily driven by a 33694.9% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 67.88 | 91.22 | 34.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,425 | 4,933 | 11.5% |
| Net Income Margin (%) | 0.1% | 42.0% | 33694.9% |
| P/E Multiple | 3,647.9 | 13.0 | -99.6% |
| Shares Outstanding (Mil) | 295 | 294 | 0.3% |
| Cumulative Contribution | 34.4% |
Market Drivers
6/30/2023 to 7/27/2026| Return | Correlation | |
|---|---|---|
| ZM | 34.4% | |
| Market (SPY) | 72.6% | 37.7% |
| Sector (XLK) | 104.3% | 32.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ZM Return | -45% | -63% | 6% | 13% | 6% | 2% | -74% |
| Peers Return | 25% | -44% | 44% | 20% | 15% | 12% | 59% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| ZM Win Rate | 42% | 25% | 50% | 58% | 67% | 71% | |
| Peers Win Rate | 65% | 25% | 57% | 60% | 55% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| ZM Max Drawdown | -59% | -65% | -30% | -23% | -25% | -26% | |
| Peers Max Drawdown | -21% | -50% | -22% | -22% | -29% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, CSCO, GOOGL, RNG, CRM. See ZM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/27/2026 (YTD)
How Low Can It Go
| Event | ZM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.7% | -18.8% |
| % Gain to Breakeven | 27.7% | 23.1% |
| Time to Breakeven | 154 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -14.5% | -9.5% |
| % Gain to Breakeven | 16.9% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.5% | -6.7% |
| % Gain to Breakeven | 25.7% | 7.1% |
| Time to Breakeven | 552 days | 31 days |
In The Past
Zoom Communications's stock fell -21.7% during the 2025 US Tariff Shock. Such a loss loss requires a 27.7% gain to breakeven.
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| Event | ZM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.7% | -18.8% |
| % Gain to Breakeven | 27.7% | 23.1% |
| Time to Breakeven | 154 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.5% | -6.7% |
| % Gain to Breakeven | 25.7% | 7.1% |
| Time to Breakeven | 552 days | 31 days |
In The Past
Zoom Communications's stock fell -21.7% during the 2025 US Tariff Shock. Such a loss loss requires a 27.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Zoom Communications (ZM)
Zoom Video Communications, Inc. (ZM) is a leading provider of a unified communications platform, primarily known for its high-definition video conferencing solutions. The company enables seamless communication and collaboration across various devices, including mobile, desktop, and conference room systems, integrating video, voice, chat, and content sharing functionalities into a single platform.
Beyond its widely recognized Zoom Meetings, the company offers a comprehensive suite of products and services. These include Zoom Phone, an enterprise cloud phone system; Zoom Chat for instant messaging; Zoom Rooms for software-based conference room systems; and Zoom Events and Webinars for hosting virtual events and presentations. Zoom also provides a Developer Platform for integrations, a hardware-as-a-service offering, and an omnichannel Zoom Contact Center solution, expanding its reach into business communication infrastructure.
Zoom serves a broad and diverse customer base globally, catering to individuals, small businesses, and large enterprises across numerous sectors. Its primary markets include education, entertainment/media, finance, government, healthcare, manufacturing, retail/consumer products, and various other industries, demonstrating its platform's versatility and widespread adoption for both internal and external communication needs.
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Here are 1-3 brief analogies to describe Zoom Communications (ZM):
- The Netflix for virtual meetings.
- Like Microsoft Teams or Google Meet, but built around a world-class video conferencing experience.
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- Zoom Meetings: A platform offering HD video, voice, chat, and content sharing across various devices.
- Zoom Phone: An enterprise-grade cloud-based phone system.
- Zoom Chat: A messaging service enabling users to share messages, images, and content across devices.
- Zoom Rooms: A software-based conference room system for video collaboration.
- Zoom Hardware-as-a-Service: A service providing access to video communication technology using third-party equipment.
- Zoom Conference Room Connector: A gateway enabling SIP/H.323 endpoints to join Zoom meetings.
- Zoom Events: A platform for managing and hosting both internal and external virtual events.
- OnZoom: A prosumer-focused virtual event platform and marketplace for creating, hosting, and monetizing online events.
- Zoom Webinars: A service for delivering video presentations to large audiences from various devices.
- Zoom Developer Platform: A platform that enables developers to build apps and integrate Zoom's video-based communication solutions.
- Zoom App Marketplace: A marketplace for developers to publish their apps and third-party integrations for Zoom.
- Zoom Contact Center: An omnichannel contact center solution for customer service.
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Zoom Communications (symbol: ZM) primarily sells its unified communications platform and related services to other companies and organizations.
The provided background information does not list the names of specific major customer companies. However, it identifies the following categories of industries that Zoom serves, which represent its major customer segments:
- Education
- Entertainment/Media
- Enterprise Infrastructure
- Finance
- Government
- Healthcare
- Manufacturing
- Non-profit/Not-for-profit and Social Impact
- Retail/Consumer Products
- Software/Internet Industries
While Zoom also serves individuals and prosumers, its primary customer base for its broader suite of offerings, including Zoom Phone, Zoom Rooms, and Zoom Contact Center, is found within these diverse organizational categories.
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- Oracle (ORCL)
- Amazon.com (AMZN)
- HP Inc. (HPQ)
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Eric S. Yuan, Founder & Chief Executive Officer
Eric S. Yuan founded Zoom in 2011. Before establishing Zoom, he served as Corporate Vice President of Engineering at Cisco. He was also a founding engineer and Vice President of Engineering at Webex, where he expanded his team from 10 to over 800 engineers and contributed to revenue growth from $0 to over $800M. Yuan departed Cisco to found Zoom after his proposal for a new smartphone-friendly video conferencing system was turned down. He initially funded Zoom by borrowing from friends and family due to a lack of investor interest. Zoom's initial public offering in 2019 was recognized as one of the highest-performing tech IPOs.
Michelle Chang, Chief Financial Officer
Michelle Chang was appointed Chief Financial Officer of Zoom, with her role effective starting October 7, 2024. Prior to joining Zoom, she held the position of Corporate Vice President and CFO of Microsoft's Commercial Sales & Partner Organization. Her extensive tenure at Microsoft included various other finance leadership roles, such as Corporate Vice President and CFO of Modern Workplace (including Office and Teams) and Cyber Security. Chang began her career as an Audit & Consulting Senior at Arthur Andersen.
Velchamy Sankarlingam, President of Product and Engineering
Velchamy Sankarlingam joined Zoom in 2020 and is responsible for leading the company's Product, Engineering, DevOps, Digital Transformation, and Support functions. Before his time at Zoom, he was the Senior Vice President of Cloud Services Development and Operations at VMware, where he managed an R&D business unit, oversaw all infrastructure (including one of the largest private clouds), and facilitated VMware's transition to a SaaS model. Earlier in his career, he served as Vice President of Engineering and Operations at Cisco, specifically for Webex. He also held Vice President positions at Webex and Presenter.com, both of which were acquired by Cisco and Webex respectively. His career also includes experience at Andersen Consulting (now Accenture), IBM, Network Computing Devices, and Standard Microsystems.
Aparna Bawa, Chief Operating Officer
Aparna Bawa serves as Zoom's Chief Operating Officer, a role she has held since May 2020, following her tenure as Chief Legal Officer. Prior to joining Zoom in 2018, she was Senior Vice President and General Counsel for Magento Commerce, which was acquired by Adobe in 2018. Earlier, as Vice President and General Counsel for Nimble Storage, she played a key role in the company's initial public offering in 2013 and its subsequent sale to Hewlett Packard Enterprise in 2017. Bawa also led legal and corporate development functions for Inphi Corp. Her background includes experience as an investment banker at Lehman Brothers and Deutsche Bank, where she managed numerous IPO and M&A transactions for technology sector clients. She began her career as a corporate and securities attorney at Wilson Sonsini Goodrich & Rosati.
Abhisht Arora, Chief Strategy Officer
Abhisht Arora joined Zoom in 2021 as Chief Strategy Officer, where he is responsible for driving key growth initiatives, monetization strategies, corporate development, and strategic planning. Before his role at Zoom, he was Vice President of Product at Microsoft Teams. Arora's career at Microsoft spanned over 20 years, during which he held senior business and product leadership positions across various divisions, including Xbox, Bing, Windows, Office, and Surface. He is credited with product innovations such as the creation of Xbox Game Pass and significantly boosting usage and revenue growth for Bing and Xbox Live.
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The key risks to Zoom Communications (ZM) are:
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Intense Competition and Market Saturation
Zoom operates in a highly competitive market against established players such as Microsoft (Teams), Google (Meet), and Cisco (Webex), which often bundle their video conferencing services with other products. This competition can lead to lower pricing, eroded market share, and increased customer acquisition costs. The market for video communications has also experienced saturation following its rapid growth during the pandemic, which could limit Zoom's future growth opportunities and make customer acquisition and retention more challenging.
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Rapid Technological Changes and AI-Related Challenges
The fast-paced evolution of technology in the communications sector, including the rise of new AI-driven solutions, poses a continuous threat to Zoom's relevance. Zoom must consistently innovate and adapt its platform to maintain its customer base and market share. Furthermore, the company's use of generative artificial intelligence (AI) in its products and services introduces new operational challenges, potential legal liabilities, reputational concerns, and competitive and regulatory risks that could adversely affect its business.
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Security, Privacy, and Regulatory Concerns
Zoom has faced significant scrutiny and investigations concerning its user privacy policies, encryption methods, and overall data security practices. Past incidents like "Zoombombing" and concerns about data breaches have raised questions about trust. While Zoom has implemented enhanced security measures and encryption protocols to address these issues, the company remains susceptible to data breaches and must continue to comply with evolving regulatory and privacy requirements across various regions to avoid potential harm to its business and legal liability.
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The increasing ubiquity and feature maturation of unified communication platforms bundled within larger enterprise software ecosystems, notably Microsoft Teams (as part of Microsoft 365) and Google Meet (as part of Google Workspace). These comprehensive offerings increasingly provide comparable video conferencing, chat, and telephony services, diminishing the perceived need for standalone subscriptions to specialized communication platforms like Zoom for many businesses already paying for these broader suites.
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Zoom Communications (symbol: ZM) operates within several large addressable markets for its main products and services:
-
Unified Communications Platform (encompassing Zoom Meetings, Zoom Phone, Zoom Chat, Zoom Rooms): The global unified communications market was valued at approximately USD 136.11 billion in 2023 and is projected to reach around USD 417.86 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2030. Other estimates place the global market at USD 146.2 billion in 2024, expected to reach USD 530.5 billion by 2033, with a CAGR of 14.63% from 2025-2033. North America accounted for 26.0% of the global unified communications market in 2023.
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Zoom Phone (Cloud Phone System): The global cloud telephony service market is projected to reach US$ 26.8 billion in 2026 and US$ 48.4 billion by 2033, exhibiting a CAGR of 8.8% between 2026 and 2033. Another estimate indicates the global cloud telephony service market size reached USD 23.9 billion in 2024 and is expected to reach USD 47.8 billion by 2033, with a CAGR of 7.99% during 2025-2033. North America leads this market, holding approximately 41% of the global market share.
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Zoom Events, OnZoom, and Zoom Webinars (Virtual Events): The global virtual events industry market was valued at $392.10 billion in 2023 and is estimated to reach $1,388.4 billion by 2035, growing at a CAGR of 11.2% from 2024 to 2035. Other reports show the global virtual events market at USD 98.07 billion in 2024, projected to reach USD 297.16 billion by 2030, with a CAGR of 20.3% from 2025 to 2030. North America held the major share of the market in 2023 and accounted for 39.8% of the global virtual events market in 2024.
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Zoom Contact Center: The global contact center software market was valued at USD 40.9 billion in 2024 and is projected to reach USD 152.4 billion by 2033, exhibiting a CAGR of 15.7% from 2025-2033. Another source indicates the global contact center software market size was worth around USD 46.18 billion in 2024 and is predicted to grow to around USD 399.41 billion by 2034, with a CAGR of roughly 21.8% between 2025 and 2034. North America dominates this market, holding over 35.7% in 2024.
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Zoom Communications (ZM) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and product expansions.
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Expansion and Monetization of AI-powered Solutions: Zoom is heavily investing in and expecting revenue growth from its AI-powered features, particularly the AI Companion. The strategy includes selling AI Companion as a standalone product to basic users and as an add-on for enterprise customers. This focus on AI is central to Zoom's evolution into an "AI-powered system of action for modern work" and is expected to open new revenue streams.
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Growth in Enterprise Customers and Upselling within Existing Accounts: A significant driver of revenue growth for Zoom is the continued acquisition of new enterprise customers and the expansion of services within its existing large client base. The company has seen consistent year-over-year growth in the number of customers contributing more than $100,000 in trailing 12-month revenue, which now constitutes a substantial portion of its total revenue. This focus on the up-market enterprise segment demonstrates a strategy to increase average customer spending.
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Increased Adoption and Performance of Zoom Phone and Zoom Contact Center: Zoom Phone and Zoom Contact Center (ZCC) are identified as key emerging growth businesses with strong performance. These products are driving competitive displacements and are crucial components of Zoom's broader unified communications platform, contributing significantly to future revenue acceleration.
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Platform Diversification and Ecosystem Expansion: Beyond its core video conferencing, Zoom is transforming into a comprehensive work platform encompassing products like Zoom Team Chat, Zoom Events, and Zoom Docs. This strategic shift aims to integrate various communication and collaboration tools into an "AI-first work platform," enhancing its ecosystem and creating opportunities for revenue growth through a broader suite of offerings and integrations.
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Share Repurchases
- Zoom Video Communications announced an equity buyback plan on February 26, 2024. Under this program, as of January 31, 2026, the company repurchased 36,312,622 shares for a total of $2,700 million.
- In November 2025, Zoom's Board authorized an additional $1.0 billion for share repurchases, supplementing the $310.4 million remaining authorization as of October 31, 2025.
- As of January 31, 2026, Zoom had $1.0 billion remaining in its authorized share repurchase program.
Outbound Investments
- In May 2023, Zoom Ventures made a strategic investment of $51 million in the AI startup Anthropic.
- As of March 2026, analysts estimate Zoom's stake in Anthropic could be valued as high as $4.4 billion.
- In 2021, Zoom acquired assets from Liminal to enhance its virtual event capabilities and also acquired Kites GmbH for real-time Machine Translation solutions.
Capital Expenditures
- Zoom's capital expenditures averaged $116 million annually for the fiscal years ending January 2021 to 2025.
- Capital expenditures peaked at $136.6 million in the fiscal year ending January 2025.
- For fiscal year 2027, the company forecasts normalized capital expenditures to be $785 million, with a primary focus on investing in AI and expanding offerings in areas like contact center and employee experience solutions.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 144.08 |
| Mkt Cap | 301.7 |
| Rev LTM | 51,788 |
| Op Inc LTM | 11,887 |
| FCF LTM | 13,224 |
| FCF 3Y Avg | 12,607 |
| CFO LTM | 14,123 |
| CFO 3Y Avg | 13,394 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.1% |
| Rev Chg 3Y Avg | 8.5% |
| Rev Chg Q | 12.6% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Inc Chg LTM | 21.8% |
| Op Inc Chg 3Y Avg | 39.7% |
| Op Mgn LTM | 23.9% |
| Op Mgn 3Y Avg | 22.1% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 38.3% |
| CFO/Rev 3Y Avg | 35.5% |
| FCF/Rev LTM | 22.6% |
| FCF/Rev 3Y Avg | 23.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 301.7 |
| P/S | 6.4 |
| P/Op Inc | 24.3 |
| P/EBIT | 20.4 |
| P/E | 20.9 |
| P/CFO | 15.1 |
| Total Yield | 5.8% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 5.6% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.9% |
| 3M Rtn | -1.5% |
| 6M Rtn | -3.2% |
| 12M Rtn | 45.7% |
| 3Y Rtn | 29.4% |
| 1M Excs Rtn | 9.4% |
| 3M Excs Rtn | -5.1% |
| 6M Excs Rtn | -4.2% |
| 12M Excs Rtn | 29.0% |
| 3Y Excs Rtn | -30.9% |
Comparison Analyses
Price Behavior
| Market Price | $91.22 | |
| Market Cap ($ Bil) | 26.9 | |
| First Trading Date | 04/18/2019 | |
| Distance from 52W High | -18.5% | |
| 50 Days | 200 Days | |
| DMA Price | $93.26 | $87.72 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -2.2% | 4.0% |
| 3M | 1YR | |
| Volatility | 51.5% | 43.7% |
| Downside Capture | 91.26 | 120.14 |
| Upside Capture | 78.97 | 121.42 |
| Correlation (SPY) | 10.5% | 27.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.75 | 0.46 | 0.59 | 0.82 | 0.96 | 0.89 |
| Up Beta | -1.01 | -1.59 | -0.37 | -0.00 | 0.72 | 0.71 |
| Down Beta | 0.23 | 0.52 | 0.76 | 0.11 | 0.62 | 0.85 |
| Up Capture | 48% | 44% | 89% | 132% | 112% | 87% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 7 | 17 | 33 | 60 | 126 | 378 |
| Down Capture | 201% | 150% | 129% | 139% | 118% | 102% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 14 | 24 | 30 | 65 | 125 | 369 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZM | |
|---|---|---|---|---|
| ZM | 20.7% | 43.5% | 0.55 | - |
| Sector ETF (XLK) | 34.1% | 24.8% | 1.13 | 22.8% |
| Equity (SPY) | 17.6% | 12.7% | 1.00 | 27.2% |
| Gold (GLD) | 20.8% | 28.1% | 0.66 | 1.5% |
| Commodities (DBC) | 29.6% | 19.5% | 1.21 | 2.8% |
| Real Estate (VNQ) | 13.9% | 14.1% | 0.69 | 4.8% |
| Bitcoin (BTCUSD) | -46.0% | 43.0% | -1.31 | 15.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZM | |
|---|---|---|---|---|
| ZM | -23.7% | 44.6% | -0.47 | - |
| Sector ETF (XLK) | 19.5% | 25.6% | 0.68 | 47.1% |
| Equity (SPY) | 13.2% | 17.1% | 0.59 | 48.6% |
| Gold (GLD) | 17.2% | 18.4% | 0.75 | 5.0% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 4.3% |
| Real Estate (VNQ) | 3.3% | 18.9% | 0.07 | 33.3% |
| Bitcoin (BTCUSD) | 15.8% | 53.5% | 0.47 | 25.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZM | |
|---|---|---|---|---|
| ZM | 4.0% | 54.3% | 0.31 | - |
| Sector ETF (XLK) | 24.0% | 24.8% | 0.88 | 32.5% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 25.8% |
| Gold (GLD) | 11.4% | 16.1% | 0.58 | 7.8% |
| Commodities (DBC) | 6.9% | 18.0% | 0.30 | 4.0% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 12.5% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 14.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/25/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/21/2026 | 9.2% | 5.0% | -10.7% |
| 2/25/2026 | -11.6% | -8.7% | -7.2% |
| 11/24/2025 | 9.8% | 9.0% | 9.8% |
| 8/21/2025 | 12.7% | 10.5% | 14.2% |
| 5/21/2025 | -0.2% | -2.8% | -6.1% |
| 2/24/2025 | -8.5% | -8.4% | -3.7% |
| 8/21/2024 | 13.0% | 17.4% | 12.1% |
| 5/20/2024 | -0.4% | -3.2% | -9.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 10 |
| # Negative | 15 | 14 | 14 |
| Median Positive | 9.2% | 8.4% | 13.1% |
| Median Negative | -8.1% | -10.4% | -9.8% |
| Max Positive | 40.8% | 20.3% | 44.6% |
| Max Negative | -16.7% | -24.1% | -26.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/21/2026 | 9.2% | 5.0% | -10.7% |
| 2/25/2026 | -11.6% | -8.7% | -7.2% |
| 11/24/2025 | 9.8% | 9.0% | 9.8% |
| 8/21/2025 | 12.7% | 10.5% | 14.2% |
| 5/21/2025 | -0.2% | -2.8% | -6.1% |
| 2/24/2025 | -8.5% | -8.4% | -3.7% |
| 8/21/2024 | 13.0% | 17.4% | 12.1% |
| 5/20/2024 | -0.4% | -3.2% | -9.0% |
| 2/26/2024 | 8.0% | 10.4% | 5.1% |
| 11/20/2023 | -0.1% | 2.3% | 5.8% |
| 8/21/2023 | -2.1% | 0.4% | 2.3% |
| 5/22/2023 | -8.1% | -8.0% | -5.5% |
| 2/27/2023 | 1.2% | -3.2% | -7.0% |
| 11/21/2022 | -3.9% | -12.1% | -12.9% |
| 8/22/2022 | -16.5% | -16.9% | -22.1% |
| 5/23/2022 | 5.6% | 20.3% | 31.7% |
| 2/28/2022 | -7.4% | -18.6% | -4.8% |
| 11/22/2021 | -14.7% | -12.7% | -20.3% |
| 8/30/2021 | -16.7% | -13.7% | -25.9% |
| 6/1/2021 | -0.2% | 4.1% | 18.1% |
| 3/1/2021 | -9.0% | -24.1% | -23.5% |
| 11/30/2020 | -15.1% | -14.7% | -26.1% |
| 8/31/2020 | 40.8% | 7.9% | 44.6% |
| 6/2/2020 | 7.6% | -1.3% | 24.5% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 10 |
| # Negative | 15 | 14 | 14 |
| Median Positive | 9.2% | 8.4% | 13.1% |
| Median Negative | -8.1% | -10.4% | -9.8% |
| Max Positive | 40.8% | 20.3% | 44.6% |
| Max Negative | -16.7% | -24.1% | -26.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 05/22/2026 | 10-Q |
| 01/31/2026 | 02/27/2026 | 10-K |
| 10/31/2025 | 11/25/2025 | 10-Q |
| 07/31/2025 | 08/22/2025 | 10-Q |
| 04/30/2025 | 05/23/2025 | 10-Q |
| 01/31/2025 | 02/28/2025 | 10-K |
| 10/31/2024 | 11/26/2024 | 10-Q |
| 07/31/2024 | 08/23/2024 | 10-Q |
| 04/30/2024 | 05/22/2024 | 10-Q |
| 01/31/2024 | 03/04/2024 | 10-K |
| 10/31/2023 | 11/21/2023 | 10-Q |
| 07/31/2023 | 08/23/2023 | 10-Q |
| 04/30/2023 | 05/25/2023 | 10-Q |
| 01/31/2023 | 03/03/2023 | 10-K |
| 10/31/2022 | 11/23/2022 | 10-Q |
| 07/31/2022 | 08/24/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 05/22/2026 | 10-Q |
| 01/31/2026 | 02/27/2026 | 10-K |
| 10/31/2025 | 11/25/2025 | 10-Q |
| 07/31/2025 | 08/22/2025 | 10-Q |
| 04/30/2025 | 05/23/2025 | 10-Q |
| 01/31/2025 | 02/28/2025 | 10-K |
| 10/31/2024 | 11/26/2024 | 10-Q |
| 07/31/2024 | 08/23/2024 | 10-Q |
| 04/30/2024 | 05/22/2024 | 10-Q |
| 01/31/2024 | 03/04/2024 | 10-K |
| 10/31/2023 | 11/21/2023 | 10-Q |
| 07/31/2023 | 08/23/2023 | 10-Q |
| 04/30/2023 | 05/25/2023 | 10-Q |
| 01/31/2023 | 03/03/2023 | 10-K |
| 10/31/2022 | 11/23/2022 | 10-Q |
| 07/31/2022 | 08/24/2022 | 10-Q |
| 04/30/2022 | 05/25/2022 | 10-Q |
| 01/31/2022 | 03/07/2022 | 10-K |
| 10/31/2021 | 11/23/2021 | 10-Q |
| 07/31/2021 | 08/31/2021 | 10-Q |
| 04/30/2021 | 06/02/2021 | 10-Q |
| 01/31/2021 | 03/18/2021 | 10-K |
| 10/31/2020 | 12/04/2020 | 10-Q |
| 07/31/2020 | 09/03/2020 | 10-Q |
| 04/30/2020 | 06/05/2020 | 10-Q |
| 01/31/2020 | 03/20/2020 | 10-K |
| 10/31/2019 | 12/09/2019 | 10-Q |
| 07/31/2019 | 09/13/2019 | 10-Q |
Recent Forward Guidance
Updated 7/27/2026Latest: Q1 2027 Earnings Reported 5/21/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2027 Revenue | 1.26 Bil | 1.27 Bil | 1.27 Bil | 3.7% | Higher New | Guidance: 1.22 Bil for Q1 2027 | |
| Q2 2027 Non-GAAP Income from Operations | 508.00 Mil | 510.50 Mil | 513.00 Mil | 4.3% | Higher New | Guidance: 489.50 Mil for Q1 2027 | |
| Q2 2027 Non-GAAP Diluted EPS | 1.45 | 1.46 | 1.47 | 3.6% | Higher New | Guidance: 1.41 for Q1 2027 | |
| 2027 Revenue | 5.08 Bil | 5.08 Bil | 5.09 Bil | 0.3% | Raised | Guidance: 5.07 Bil for 2027 | |
| 2027 Non-GAAP Income from Operations | 2.06 Bil | 2.07 Bil | 2.08 Bil | 0.7% | Raised | Guidance: 2.06 Bil for 2027 | |
| 2027 Non-GAAP Diluted EPS | 5.96 | 5.98 | 6 | 3.3% | Raised | Guidance: 5.79 for 2027 | |
| 2027 Free Cash Flow | 1.70 Bil | 1.72 Bil | 1.74 Bil | 0.0% | Affirmed | Guidance: 1.72 Bil for 2027 | |
Prior: Q4 2026 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Revenue | 1.22 Bil | 1.22 Bil | 1.23 Bil | ||||
| Q1 2027 Non-GAAP Income from Operations | 487.00 Mil | 489.50 Mil | 492.00 Mil | ||||
| Q1 2027 Non-GAAP Diluted EPS | 1.4 | 1.41 | 1.42 | ||||
| 2027 Revenue | 5.07 Bil | 5.07 Bil | 5.08 Bil | 4.4% | Higher New | Guidance: 4.85 Bil for 2026 | |
| 2027 Non-GAAP Income from Operations | 2.05 Bil | 2.06 Bil | 2.06 Bil | ||||
| 2027 Non-GAAP Diluted EPS | 5.77 | 5.79 | 5.81 | -2.9% | Lower New | Guidance: 5.96 for 2026 | |
| 2027 Free Cash Flow | 1.70 Bil | 1.72 Bil | 1.74 Bil | -8.0% | Lower New | Guidance: 1.87 Bil for 2026 | |
Q3 2026 Earnings Reported 11/24/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Revenue | 1.23 Bil | 1.23 Bil | 1.24 Bil | 1.6% | Higher New | Guidance: 1.21 Bil for Q3 2026 | |
| Q4 2026 Non-GAAP Diluted EPS | 1.48 | 1.49 | 1.49 | 3.8% | Higher New | Guidance: 1.43 for Q3 2026 | |
| 2026 Revenue | 4.85 Bil | 4.85 Bil | 4.86 Bil | 0.5% | Raised | Guidance: 4.83 Bil for 2026 | |
| 2026 Non-GAAP Diluted EPS | 5.95 | 5.96 | 5.97 | 2.3% | Raised | Guidance: 5.83 for 2026 | |
| 2026 Free Cash Flow | 1.86 Bil | 1.87 Bil | 1.88 Bil | 6.2% | Raised | Guidance: 1.76 Bil for 2026 | |
Insider Activity
Updated 7/15/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 7152026 | 90.65 | 12,100 | 1,096,901 | 2,084,838 | Form |
| 2 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 7152026 | 91.68 | 45,724 | 4,192,159 | 2,108,549 | Form |
| 3 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 7132026 | 90.80 | 8,489 | 770,820 | 3,219,119 | Form |
| 4 | Subotovsky, Santiago | Direct | Sell | 7062026 | 90.15 | 2,637 | 237,724 | 12,490,552 | Form | |
| 5 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 6162026 | 93.83 | 327 | 30,682 | 2,858,719 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 7152026 | 90.65 | 12,100 | 1,096,901 | 2,084,838 | Form |
| 2 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 7152026 | 91.68 | 45,724 | 4,192,159 | 2,108,549 | Form |
| 3 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 7132026 | 90.80 | 8,489 | 770,820 | 3,219,119 | Form |
| 4 | Subotovsky, Santiago | Direct | Sell | 7062026 | 90.15 | 2,637 | 237,724 | 12,490,552 | Form | |
| 5 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 6162026 | 93.83 | 327 | 30,682 | 2,858,719 | Form |
| 6 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 6042026 | 106.50 | 12,100 | Form | ||
| 7 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 6042026 | 111.61 | 12,100 | Form | ||
| 8 | Subotovsky, Santiago | Direct | Sell | 6032026 | 109.78 | 5,274 | 578,998 | 15,107,072 | Form | |
| 9 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 5062026 | 108.23 | 12,100 | Form | ||
| 10 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 5062026 | 106.60 | 12,100 | Form | ||
| 11 | Subotovsky, Santiago | Direct | Sell | 5052026 | 106.58 | 5,274 | 562,097 | 15,228,200 | Form | |
| 12 | Subotovsky, Santiago | Direct | Sell | 5052026 | 102.85 | 2,643 | 271,844 | 15,238,494 | Form | |
| 13 | Subotovsky, Santiago | Direct | Sell | 4202026 | 87.32 | 2,643 | 230,776 | 13,167,156 | Form | |
| 14 | Subotovsky, Santiago | see footnote | Sell | 4202026 | 87.32 | 2,388 | Form | |||
| 15 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 4172026 | 85.44 | 7,645 | 653,191 | 12,130,035 | Form |
| 16 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 4152026 | 82.23 | 15,273 | 1,255,887 | 3,025,707 | Form |
| 17 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 4152026 | 81.22 | 69,923 | 5,678,836 | 2,988,408 | Form |
| 18 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 4132026 | 81.32 | 8,489 | 690,331 | 2,477,595 | Form |
| 19 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 3112026 | 78.24 | 2,590 | 202,642 | 10,722,323 | Form |
| 20 | Subotovsky, Santiago | Direct | Sell | 3062026 | 77.42 | 2,475 | 191,619 | 11,879,755 | Form | |
| 21 | Subotovsky, Santiago | Direct | Sell | 2092026 | 90.39 | 2,475 | 223,716 | 14,093,383 | Form | |
| 22 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 2042026 | 89.31 | 12,100 | Form | ||
| 23 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 2042026 | 93.01 | 12,100 | Form | ||
| 24 | Bawa, Aparna | Chief Operating Officer | See footnote | Sell | 1212026 | 81.37 | 12,137 | 987,553 | 160,944 | Form |
| 25 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 1132026 | 86.54 | 8,417 | 728,424 | 2,205,262 | Form |
| 26 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 1132026 | 86.55 | 7,568 | 654,997 | 11,786,305 | Form |
| 27 | Subotovsky, Santiago | Direct | Sell | 1072026 | 86.01 | 2,475 | 212,877 | 12,490,437 | Form | |
| 28 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12172025 | 87.29 | 73,378 | Form | ||
| 29 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12172025 | 87.05 | 73,378 | Form | ||
| 30 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 12112025 | 87.84 | 2,595 | 227,945 | 11,740,607 | Form |
| 31 | Subotovsky, Santiago | Direct | Sell | 12082025 | 86.05 | 2,475 | 212,985 | 12,709,713 | Form | |
| 32 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12042025 | 84.62 | 0 | Form | ||
| 33 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12042025 | 85.66 | 0 | Form | ||
| 34 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12042025 | 86.08 | 0 | Form | ||
| 35 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12042025 | 85.03 | 0 | Form | ||
| 36 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12042025 | 85.97 | 0 | Form | ||
| 37 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 12042025 | 86.71 | 0 | Form | ||
| 38 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 11192025 | 81.27 | 73,378 | Form | ||
| 39 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 11192025 | 82.73 | 73,378 | Form | ||
| 40 | Subotovsky, Santiago | Direct | Sell | 11062025 | 84.15 | 2,475 | 208,262 | 12,636,145 | Form | |
| 41 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 11052025 | 84.16 | 73,378 | Form | ||
| 42 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 11052025 | 86.15 | 73,378 | Form | ||
| 43 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 10242025 | 82.85 | 73,378 | Form | ||
| 44 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 10242025 | 82.65 | 73,383 | Form | ||
| 45 | Bawa, Aparna | Chief Operating Officer | See footnote | Sell | 10202025 | 79.77 | 10,528 | 839,860 | 157,793 | Form |
| 46 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 10152025 | 79.76 | 33,692 | Form | ||
| 47 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 10142025 | 82.00 | 7,660 | 628,121 | 10,889,201 | Form |
| 48 | Chang, Michelle | Chief Financial Officer | Direct | Sell | 10142025 | 82.00 | 33,956 | 2,784,318 | 1,684,153 | Form |
| 49 | Subotovsky, Santiago | Direct | Sell | 10082025 | 80.78 | 2,475 | 199,929 | 12,330,486 | Form | |
| 50 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 9112025 | 85.09 | 2,595 | 220,809 | 11,082,292 | Form |
| 51 | Subotovsky, Santiago | Direct | Sell | 9092025 | 83.40 | 2,475 | 206,424 | 12,937,519 | Form | |
| 52 | Subotovsky, Santiago | Direct | Sell | 8272025 | 79.65 | 2,475 | 197,142 | 12,552,905 | Form | |
| 53 | McMaster, Herbert Raymond | Direct | Sell | 8262025 | 83.00 | 2,000 | 166,000 | 655,783 | Form | |
| 54 | McMaster, Herbert Raymond | Direct | Sell | 8262025 | 80.00 | 1,000 | 80,000 | 792,080 | Form | |
| 55 | Chadwick, Jonathan | Direct | Sell | 7162025 | 74.86 | 25,000 | 1,871,442 | 439,789 | Form | |
| 56 | Bawa, Aparna | Chief Operating Officer | See footnote | Sell | 7162025 | 74.78 | 10,528 | 787,329 | 147,923 | Form |
| 57 | Yuan, Eric S | Chief Executive Officer | See footnote | Sell | 7162025 | 74.79 | 33,691 | Form | ||
| 58 | McMaster, Herbert Raymond | Direct | Sell | 7162025 | 75.00 | 500 | 37,500 | 817,575 | Form | |
| 59 | Sankarlingam, Velchamy | Pres. of Engineering & Product | Direct | Sell | 7102025 | 77.50 | 7,661 | 593,728 | 10,026,718 | Form |
| 60 | Subotovsky, Santiago | Direct | Sell | 7072025 | 77.17 | 2,475 | 190,996 | 12,133,841 | Form |
Investor Activity (13F)
Updated Jul 28, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Comprehensive Financial Management LLC | $94.2 Mil | 3.1% | 38 | Hold | 13F |
| Oribel Capital Management, LP | $15.2 Mil | 2.3% | 41 | New | 13F |
| Benchstone Capital Management LP | $18.3 Mil | 2.1% | 38 | New | 13F |
| Nishkama Capital, LLC | $12.7 Mil | 1.8% | 39 | New | 13F |
| Mudita Advisors LLP | $6.3 Mil | 1.3% | 28 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Comprehensive Financial Management LLC | $94.2 Mil | 3.1% | 38 | Hold | 13F |
| Benchstone Capital Management LP | $18.3 Mil | 2.1% | 38 | New | 13F |
| Oribel Capital Management, LP | $15.2 Mil | 2.3% | 41 | New | 13F |
| Nishkama Capital, LLC | $12.7 Mil | 1.8% | 39 | New | 13F |
| Mudita Advisors LLP | $6.3 Mil | 1.3% | 28 | New | 13F |
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Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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