ZoomInfo Technologies (NASDAQ:ZI) Stock Rating Lowered by Truist Financial

ZoomInfo Technologies (NASDAQ:ZIGet Rating) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Tuesday, The Fly reports. They presently have a $28.00 price target on the stock, down from their previous price target of $65.00. Truist Financial’s price objective would suggest a potential upside of 9.93% from the company’s previous close.

Several other research firms also recently issued reports on ZI. The Goldman Sachs Group dropped their price target on shares of ZoomInfo Technologies from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Royal Bank of Canada dropped their price target on shares of ZoomInfo Technologies from $50.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, November 23rd. Barclays dropped their price target on shares of ZoomInfo Technologies from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, November 2nd. UBS Group dropped their price target on shares of ZoomInfo Technologies from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, November 2nd. Finally, Piper Sandler dropped their price target on shares of ZoomInfo Technologies from $50.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.11.

ZoomInfo Technologies Price Performance

Shares of NASDAQ:ZI opened at $25.47 on Tuesday. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 1.63 and a beta of 0.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50 day simple moving average of $28.74 and a 200 day simple moving average of $37.70. ZoomInfo Technologies has a one year low of $23.29 and a one year high of $61.44.

ZoomInfo Technologies (NASDAQ:ZIGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $287.60 million during the quarter, compared to the consensus estimate of $277.90 million. ZoomInfo Technologies had a net margin of 18.15% and a return on equity of 7.92%. Research analysts predict that ZoomInfo Technologies will post 0.46 earnings per share for the current fiscal year.

Insider Activity at ZoomInfo Technologies

In other news, CEO Henry Schuck sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $28.16, for a total transaction of $28,160,000.00. Following the sale, the chief executive officer now owns 14,288,001 shares of the company’s stock, valued at approximately $402,350,108.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ZoomInfo Technologies

Several institutional investors and hedge funds have recently modified their holdings of ZI. Vanguard Group Inc. boosted its stake in ZoomInfo Technologies by 11.2% during the third quarter. Vanguard Group Inc. now owns 28,188,768 shares of the company’s stock worth $1,174,345,000 after buying an additional 2,843,150 shares during the period. State Street Corp raised its holdings in ZoomInfo Technologies by 71.7% in the second quarter. State Street Corp now owns 5,874,049 shares of the company’s stock worth $195,253,000 after purchasing an additional 2,453,367 shares in the last quarter. Dragoneer Investment Group LLC raised its holdings in ZoomInfo Technologies by 134.2% in the first quarter. Dragoneer Investment Group LLC now owns 3,943,215 shares of the company’s stock worth $235,568,000 after purchasing an additional 2,259,831 shares in the last quarter. Capital World Investors raised its holdings in ZoomInfo Technologies by 7.1% in the first quarter. Capital World Investors now owns 28,215,665 shares of the company’s stock worth $1,685,604,000 after purchasing an additional 1,872,595 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in ZoomInfo Technologies by 503.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,814,807 shares of the company’s stock worth $75,606,000 after purchasing an additional 1,513,857 shares in the last quarter. Institutional investors own 84.96% of the company’s stock.

About ZoomInfo Technologies

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ZoomInfo Technologies Inc, through its subsidiaries, provides go-to-market intelligence and engagement platform for sales and marketing teams in the United States and internationally. The company's cloud-based platform provides information on organizations and professionals to help users identify target customers and decision makers, obtain continually updated predictive lead and company scoring, monitor buying signals and other attributes of target companies, craft messages, engage through automated sales tools, and track progress through the deal cycle.

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Analyst Recommendations for ZoomInfo Technologies (NASDAQ:ZI)

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