ZoomInfo Technologies (NASDAQ:ZI) Hits New 1-Year Low Following Analyst Downgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares hit a new 52-week low during mid-day trading on Wednesday after KeyCorp lowered their price target on the stock from $20.00 to $18.00. KeyCorp currently has an overweight rating on the stock. ZoomInfo Technologies traded as low as $11.82 and last traded at $11.92, with a volume of 9556964 shares changing hands. The stock had previously closed at $16.02.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group lowered ZoomInfo Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $19.50 to $12.00 in a research note on Wednesday. Canaccord Genuity Group lowered their target price on ZoomInfo Technologies from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their target price on ZoomInfo Technologies from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup lowered ZoomInfo Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $20.00 to $13.00 in a research report on Thursday, February 8th. Finally, Bank of America raised ZoomInfo Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $25.00 in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZI. SG Americas Securities LLC bought a new position in ZoomInfo Technologies in the 3rd quarter worth about $203,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of ZoomInfo Technologies by 135,227.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 93,376 shares of the company’s stock valued at $1,531,000 after acquiring an additional 93,307 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of ZoomInfo Technologies by 6.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,059 shares of the company’s stock valued at $936,000 after acquiring an additional 3,684 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ZoomInfo Technologies by 10.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,301,376 shares of the company’s stock valued at $54,143,000 after acquiring an additional 300,341 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of ZoomInfo Technologies by 28.1% during the 3rd quarter. New York State Teachers Retirement System now owns 243,685 shares of the company’s stock valued at $3,996,000 after buying an additional 53,475 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Trading Down 24.2 %

The company has a market capitalization of $4.61 billion, a PE ratio of 44.96, a PEG ratio of 4.28 and a beta of 1.13. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $16.01 and a two-hundred day moving average of $15.89.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The company had revenue of $316.40 million for the quarter, compared to analysts’ expectations of $310.62 million. During the same period last year, the firm posted $0.13 EPS. ZoomInfo Technologies’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that ZoomInfo Technologies Inc. will post 0.64 earnings per share for the current fiscal year.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies Inc, together with 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.