ZoomInfo Technologies (NASDAQ:ZI) Issues Q2 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.230-0.240 for the period, compared to the consensus estimate of 0.250. The company issued revenue guidance of $306.0 million-$309.0 million, compared to the consensus revenue estimate of $313.1 million. ZoomInfo Technologies also updated its FY 2024 guidance to 1.000-1.020 EPS.

ZoomInfo Technologies Trading Down 3.6 %

Shares of NASDAQ ZI opened at $16.02 on Wednesday. The firm’s 50 day moving average price is $16.04 and its 200-day moving average price is $15.90. ZoomInfo Technologies has a 52-week low of $12.36 and a 52-week high of $30.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $6.08 billion, a PE ratio of 59.34, a P/E/G ratio of 4.28 and a beta of 1.13.

ZoomInfo Technologies (NASDAQ:ZI) last posted its earnings results on Monday, February 12th. The company reported $0.26 EPS for the quarter, topping 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 business had revenue of $316.40 million during the quarter, compared to analyst estimates of $310.62 million. During the same quarter last year, the company earned $0.13 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that ZoomInfo Technologies will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KeyCorp assumed coverage on shares of ZoomInfo Technologies in a report on Thursday, March 21st. They set an overweight rating and a $20.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of ZoomInfo Technologies from $24.00 to $28.00 and gave the company an overweight rating in a research report on Tuesday, February 13th. Mizuho cut shares of ZoomInfo Technologies from a buy rating to a neutral rating and dropped their price target for the stock from $23.00 to $14.00 in a research note on Wednesday. Royal Bank of Canada restated an underperform rating and issued a $14.00 price objective on shares of ZoomInfo Technologies in a research note on Tuesday, February 13th. Finally, Piper Sandler downgraded ZoomInfo Technologies from an overweight rating to a neutral rating and lowered their target price for the company from $24.00 to $15.00 in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $20.15.

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.