ZoomInfo Technologies (NASDAQ:ZI) Given New $20.00 Price Target at Canaccord Genuity Group

ZoomInfo Technologies (NASDAQ:ZI) had its target price dropped by stock analysts at Canaccord Genuity Group from $22.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 58.98% from the stock’s current price.

Several other analysts have also issued reports on ZI. Piper Sandler lowered ZoomInfo Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $24.00 to $15.00 in a report on Wednesday. DA Davidson raised their price target on ZoomInfo Technologies from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada reiterated an “underperform” rating and set a $14.00 price target on shares of ZoomInfo Technologies in a report on Tuesday, February 13th. Mizuho downgraded ZoomInfo Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $14.00 in a report on Wednesday. Finally, Barclays reduced their target price on shares of ZoomInfo Technologies from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, ZoomInfo Technologies currently has an average rating of “Hold” and a consensus target price of $19.00.

ZoomInfo Technologies Trading Up 3.6 %

Shares of NASDAQ ZI opened at $12.58 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58. ZoomInfo Technologies has a one year low of $11.67 and a one year high of $30.16. The business has a 50-day moving average price of $15.92 and a two-hundred day moving average price of $15.87. The firm has a market capitalization of $4.78 billion, a PE ratio of 46.59, a PEG ratio of 4.28 and a beta of 1.13.

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

Institutional Trading of ZoomInfo Technologies

A number of hedge funds have recently bought and sold shares of the stock. Bailard Inc. raised its position in shares of ZoomInfo Technologies by 420.0% during the fourth quarter. Bailard Inc. now owns 129,595 shares of the company’s stock valued at $2,396,000 after buying an additional 104,675 shares during the last quarter. Aquila Investment Management LLC increased its stake in ZoomInfo Technologies by 155.8% during the fourth quarter. Aquila Investment Management LLC now owns 243,000 shares of the company’s stock valued at $4,493,000 after acquiring an additional 148,000 shares during the period. Quantbot Technologies LP acquired a new position in ZoomInfo Technologies in the 3rd quarter valued at approximately $1,256,000. Vanguard Group Inc. lifted its position in shares of ZoomInfo Technologies by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,741,205 shares of the company’s stock worth $553,356,000 after acquiring an additional 2,079,385 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of ZoomInfo Technologies by 9.7% during the 3rd quarter. Retirement Systems of Alabama now owns 380,970 shares of the company’s stock worth $6,248,000 after purchasing an additional 33,590 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

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.