Honestly, if you told someone in 2020 that Zoom would be trading around $80 in 2026, they’d probably assume the internet had broken. But here we are. The Zoom stock price today closed at **$80.96** on Friday, January 16, 2026, slipping about 0.69% in a session that felt like a microcosm of its last two years: steady, slightly defensive, and trying to find a floor. It opened at $81.66 and hit a high of $82.19 before drifting down.
Market caps don't lie, and at roughly $24 billion, Zoom is a far cry from its half-trillion-dollar dreams. But don't call it a ghost town. While the stock is down nearly 80% from its all-time peak, the company is actually making way more money now than it did when everyone was stuck at home. The disconnect is wild.
The Reality of the Zoom Stock Price Today
Investors are currently staring at a 52-week range of $64.41 to $91.42. We aren't in the basement anymore, but we aren't exactly on the roof either. The P/E ratio is hovering around 15.7, which is basically "value stock" territory for a tech company. For context, the broader software industry average usually hangs out north of 30. Basically, Wall Street is pricing Zoom like a slow-growing utility rather than a high-flying innovator.
Why the skepticism? It’s the "Microsoft problem."
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Every time Zoom launches a cool new feature, Teams already has a version of it bundled into Office 365 for "free." Yet, Zoom keeps beating earnings. In its most recent fiscal reports for 2026, revenue grew about 4.4% year-over-year, hitting $1.23 billion in a single quarter. They are profitable—genuinely, deeply profitable—with a GAAP net income of over $600 million in Q3.
What the Big Money is Doing
It’s been a busy month for the insiders. CEO Eric Yuan recently sold roughly $4.9 million worth of shares between January 13 and 14, 2026. Usually, people freak out when a founder sells, but these were scheduled sales at prices between $83 and $85. He also converted a bunch of Class B shares to Class A. It’s more of a portfolio rebalance than a "get me out of here" move, but it definitely capped the stock's momentum this week.
Analysts are split right down the middle. You've got the bulls at Rosenblatt screaming for a $115 target, while the folks at Exane BNP Paribas are looking at $60. The median target is sitting around $87.85.
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- Citigroup recently upgraded the stock to "Buy" with a $106 target.
- J.P. Morgan is playing it safe with a "Hold" at $90.
- Piper Sandler is also sticking to a "Hold" at $91.
Is AI Saving the ZM Ticker?
Zoom isn't just a "video call" company anymore. They’ve rebranded as an "AI-first work platform." Their AI Companion has seen massive adoption—growing over 60% quarter-over-quarter. They are betting the farm on "agentic AI," which basically means AI that doesn't just talk to you but actually does tasks, like rescheduling meetings or drafting follow-ups without you asking.
They have over $7.8 billion in cash sitting on the balance sheet. That is a massive war chest. They've been using it to buy back shares—over 32 million shares repurchased since early 2025—which helps prop up the Zoom stock price today by reducing the supply.
The Enterprise Pivot
The "Online" segment (the stuff you and I use) is mostly flat. The real action is in "Enterprise."
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- Customers paying more than $100k a year grew by nearly 9%.
- Churn (people quitting) is stable at 2.9%.
- Operating margins are a healthy 41% on a non-GAAP basis.
The bears argue that Zoom is a feature, not a product. The bulls argue that Zoom's user experience is so much better than Teams or Google Meet that people will eventually pay a premium for "it just works."
Looking Ahead: The 2026 Outlook
For the full fiscal year 2026, Zoom is guiding for revenue around $4.85 billion. They expect non-GAAP earnings per share (EPS) to land between $5.95 and $5.97. If they hit those numbers, the stock is trading at a ridiculously low multiple.
But growth is the sticking point. If you only grow at 4%, you don't get a tech multiple. You get a "cereal company" multiple. Zoom needs a "Second Act" that isn't just an add-on to a video call. Whether that's their AI-powered Contact Center or a bold acquisition, something has to shift the narrative from "pandemic relic" to "AI powerhouse."
Actionable Insights for Investors:
- **Watch the $80 Level:** This has become a psychological support zone. If it breaks significantly lower, the next stop could be the mid-$70s.
- Monitor AI Monetization: Keep an eye on the "Custom AI Companion" add-on. If enterprise customers start paying extra for specialized AI, margins will explode.
- Cash is King: With $7.8B in cash and zero debt, Zoom is a prime candidate for a massive acquisition or an even larger share buyback program.
- Check the Multiples: At 15x earnings, the downside risk appears limited compared to other "growth" stocks, but the "opportunity cost" of holding a slow-mover is real.
The Zoom stock price today reflects a company in transition. It's no longer the "must-buy" of the lockdowns, but it's also far from the "dying breed" many predicted. It’s a cash-flow machine looking for a reason to be exciting again.