ZoomInfo Technologies (NASDAQ:ZI) Updates Q1 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZIGet Free Report) issued an update on its first quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.23-0.24 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $307-310 million, compared to the consensus revenue estimate of $308.93 million. ZoomInfo Technologies also updated its FY24 guidance to $0.99-1.01 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZI. Canaccord Genuity Group cut their price target on ZoomInfo Technologies from $26.00 to $21.00 and set a buy rating for the company in a report on Tuesday, October 31st. Barclays lowered ZoomInfo Technologies from an overweight rating to an equal weight rating and set a $18.00 target price for the company. in a research note on Friday, January 12th. JPMorgan Chase & Co. cut their target price on ZoomInfo Technologies from $26.00 to $22.00 and set an overweight rating for the company in a research note on Tuesday, October 31st. Morgan Stanley lowered ZoomInfo Technologies from an overweight rating to an equal weight rating and cut their target price for the company from $24.00 to $20.00 in a research note on Thursday, February 1st. Finally, Stifel Nicolaus cut their target price on ZoomInfo Technologies from $27.00 to $20.00 and set a buy rating for the company in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $20.84.

Get Our Latest Stock Report on ZI

ZoomInfo Technologies Stock Up 4.1 %

Shares of NASDAQ:ZI traded up $0.63 during trading on Monday, hitting $16.02. 14,373,804 shares of the company were exchanged, compared to its average volume of 7,428,083. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. ZoomInfo Technologies has a fifty-two week low of $12.36 and a fifty-two week high of $30.16. The firm has a fifty day moving average price of $16.58 and a two-hundred day moving average price of $16.57. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 45.26, a P/E/G ratio of 3.38 and a beta of 1.17.

Insider Transactions at ZoomInfo Technologies

In related news, CTO Ali Dasdan sold 5,007 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $14.69, for a total value of $73,552.83. Following the completion of the sale, the chief technology officer now directly owns 50,953 shares in the company, valued at approximately $748,499.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ZoomInfo Technologies

A number of institutional investors have recently modified their holdings of ZI. Toroso Investments LLC increased its holdings in ZoomInfo Technologies by 4.5% in the 4th quarter. Toroso Investments LLC now owns 9,582 shares of the company’s stock worth $289,000 after purchasing an additional 411 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in ZoomInfo Technologies by 47.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,925 shares of the company’s stock worth $115,000 after purchasing an additional 617 shares in the last quarter. Wahed Invest LLC increased its holdings in ZoomInfo Technologies by 25.4% in the 2nd quarter. Wahed Invest LLC now owns 4,263 shares of the company’s stock worth $108,000 after purchasing an additional 863 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in ZoomInfo Technologies by 84.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,910 shares of the company’s stock worth $31,000 after purchasing an additional 876 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in ZoomInfo Technologies by 222.2% in the 1st quarter. Advisory Services Network LLC now owns 1,450 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 89.59% 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.

Further Reading

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