ZoomInfo Technologies (NASDAQ:GTM) Reaches New 1-Year Low After Analyst Downgrade

ZoomInfo Technologies Inc. (NASDAQ:GTM)’s stock price hit a new 52-week low during trading on Tuesday after Piper Sandler lowered their price target on the stock from $12.00 to $9.00. Piper Sandler currently has a neutral rating on the stock. ZoomInfo Technologies traded as low as $6.87 and last traded at $6.92, with a volume of 7223353 shares changing hands. The stock had previously closed at $7.81.

GTM has been the topic of a number of other research reports. BTIG Research started coverage on ZoomInfo Technologies in a research report on Wednesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Citigroup increased their target price on shares of ZoomInfo Technologies from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price target on ZoomInfo Technologies from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group boosted their price objective on shares of ZoomInfo Technologies from $9.40 to $10.70 and gave the company a “sell” rating in a research report on Tuesday, November 4th. Finally, Barclays dropped their target price on shares of ZoomInfo Technologies from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies currently has an average rating of “Hold” and a consensus target price of $11.34.

Hedge Funds Weigh In On ZoomInfo Technologies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of ZoomInfo Technologies during the 4th quarter valued at approximately $255,416,000. JPMorgan Chase & Co. bought a new stake in shares of ZoomInfo Technologies during the third quarter valued at about $74,670,000. Retirement Systems of Alabama purchased a new stake in ZoomInfo Technologies in the 4th quarter worth approximately $14,412,000. Robeco Institutional Asset Management B.V. bought a new stake in ZoomInfo Technologies during the fourth quarter valued at $7,100,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of ZoomInfo Technologies during the fourth quarter worth about $5,799,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

ZoomInfo Technologies Trading Down 11.4%

The stock’s 50 day simple moving average is $9.68 and its 200 day simple moving average is $10.32. The firm has a market cap of $2.16 billion, a PE ratio of 22.32, a PEG ratio of 1.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.67 and a current ratio of 0.67.

ZoomInfo Technologies (NASDAQ:GTM) last released its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. ZoomInfo Technologies had a return on equity of 14.55% and a net margin of 8.40%.The company had revenue of $318.00 million during the quarter, compared to the consensus estimate of $303.86 million. During the same quarter in the previous year, the company posted $0.28 EPS. ZoomInfo Technologies’s quarterly revenue was up 4.7% compared to the same quarter last year.

About ZoomInfo Technologies

ZoomInfo Technologies (NASDAQ:GTM) is a leading provider of go-to-market intelligence and sales engagement software designed to help organizations accelerate growth. The company offers a cloud-based platform that delivers comprehensive contact and company data, intent signals, and analytics to support prospecting, lead generation, and customer retention. Its solutions enable sales and marketing teams to identify and engage target accounts, personalize outreach, and optimize campaigns with real-time insights into buyer behavior and market trends.

Founded in 2007 and headquartered in Waltham, Massachusetts, ZoomInfo Technologies has expanded its global footprint across North America, Europe, and Asia–Pacific.