Shares of Zoom surged 18% after its earnings report showed it beating analyst’s expectations. Full year adjusted earnings per share were revised to between $3.70 and $3.77 from $3.45 to $3.51. Zoom also reported that it has 198,800 enterprise customers, up 24% year-over-year.

Zoom had been seen as an essential company during the lockdowns of the pandemic, facilitating work from home for everyone from government workers to college students. However use has recently cooled as pandemic fears died out, and with it the stock price, which had risen to $691.69 a share on Nov. 17 2021 has fallen to $89.87 at the opening of markets in New York on Monday.

Piper Sandler senior research analyst James Fish says analysts do not expect much future growth from the company at present. “There isn’t a whole lot of excitement at this point,” Fish said to Yahoo Finance. “Contact center could be that exciting thing, but when you look at the contact center market, that can take a year or so for some of those deals to work their way through the pipeline. The fact is, if you’re not on Zoom by now, you won’t be adding it too much in the future.”