Zoom Is Getting Back to Business

such as Zoom Phone, which can replace aging office telecommunications systems, and Zoom Rooms, used for dedicated videoconferencing rooms, should also get a boost from hybrid work environments, in which in-office personnel regularly mix with remote workers. Zoom said Tuesday it has now sold 1.5 million seats for Zoom Phone, up from one million at the beginning of the year.

Zoom’s shares still aren’t cheap at around 25 times forward sales. But that is less than half the stock’s multiple at its peak in October, and a rather midrange valuation in the cloud software space, where at least half a dozen others are trading well over 30 times.

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