ZoomInfo Technologies (NASDAQ:ZI) Cut to Neutral at Piper Sandler

ZoomInfo Technologies (NASDAQ:ZI) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $24.00. Piper Sandler’s price target points to a potential upside of 19.24% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. KeyCorp initiated coverage on ZoomInfo Technologies in a report on Thursday, March 21st. They issued an “overweight” rating and a $20.00 target price for the company. Bank of America upgraded shares of ZoomInfo Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $25.00 in a research note on Monday, January 29th. The Goldman Sachs Group lowered shares of ZoomInfo Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $19.50 to $12.00 in a research report on Wednesday. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $14.00 target price on shares of ZoomInfo Technologies in a report on Tuesday, February 13th. Finally, Citigroup lowered ZoomInfo Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $20.00 to $13.00 in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.00.

ZoomInfo Technologies Trading Up 3.6 %

Shares of ZoomInfo Technologies stock opened at $12.58 on Wednesday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 46.59, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. ZoomInfo Technologies has a 52-week low of $11.67 and a 52-week high of $30.16. The company’s 50-day simple moving average is $15.92 and its 200-day simple moving average is $15.87. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.58.

ZoomInfo Technologies (NASDAQ:ZI) last released its earnings results on Monday, February 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. The company had revenue of $316.40 million for the quarter, compared to analysts’ expectations of $310.62 million. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, equities research analysts anticipate that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On ZoomInfo Technologies

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

About ZoomInfo Technologies

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.