ZoomInfo Technologies (NASDAQ:GTM) Stock Lifted to “Neutral” by Piper Sandler

ZoomInfo Technologies (NASDAQ:GTM) was upgraded by equities researchers at Piper Sandler from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently has a $4.00 price objective on the stock. Piper Sandler‘s price objective points to a potential downside of 6.10% from the stock’s current price.

Several other brokerages have also recently issued reports on GTM. Wells Fargo & Company cut their price objective on ZoomInfo Technologies from $3.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, July 20th. DA Davidson dropped their price target on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Citigroup increased their price target on shares of ZoomInfo Technologies from $2.00 to $2.50 and gave the company a “sell” rating in a report on Friday, August 7th. UBS Group decreased their target price on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Finally, Stifel Nicolaus boosted their price target on ZoomInfo Technologies from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $5.38.

ZoomInfo Technologies Price Performance

GTM opened at $4.26 on Thursday. The company has a fifty day simple moving average of $4.01 and a 200 day simple moving average of $4.73. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.52. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 5.05, a PEG ratio of 0.46 and a beta of 0.79. ZoomInfo Technologies has a twelve month low of $2.54 and a twelve month high of $11.98.

ZoomInfo Technologies (NASDAQ:GTM) last announced its earnings results on Wednesday, November 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. ZoomInfo Technologies had a positive return on equity of 20.16% and a negative net margin of 43.01%. The business had revenue of $308.80 million for the quarter. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts expect that ZoomInfo Technologies will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at ZoomInfo Technologies

In related news, CRO James Roth sold 20,773 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $3.70, for a total value of $76,860.10. Following the sale, the executive owned 270,507 shares of the company’s stock, valued at $1,000,875.90. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,135 shares of company stock worth $109,908. 9.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi grew its position in ZoomInfo Technologies by 724.9% in the first quarter. Amundi now owns 667,967 shares of the company’s stock valued at $3,994,000 after acquiring an additional 586,991 shares during the period. Principal Financial Group Inc. raised its stake in ZoomInfo Technologies by 120.6% during the first quarter. Principal Financial Group Inc. now owns 1,301,370 shares of the company’s stock worth $7,782,000 after acquiring an additional 711,508 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ZoomInfo Technologies by 24.7% during the first quarter. Dimensional Fund Advisors LP now owns 15,100,675 shares of the company’s stock worth $90,302,000 after acquiring an additional 2,992,276 shares in the last quarter. AXQ Capital LP bought a new position in shares of ZoomInfo Technologies during the second quarter valued at $1,572,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of ZoomInfo Technologies by 127.7% during the first quarter. Quantinno Capital Management LP now owns 4,144,952 shares of the company’s stock valued at $24,787,000 after acquiring an additional 2,324,381 shares during the period. Institutional investors own 95.47% of the company’s stock.

About ZoomInfo Technologies

ZoomInfo Technologies provides cloud-based go-to-market intelligence and sales-enablement software for businesses. Its platform helps organizations identify prospective customers, understand account and contact information, monitor business activity, and coordinate sales and marketing efforts. The company serves customers across a range of industries and geographies, primarily through subscription-based software services.

Its product portfolio has included SalesOS, MarketingOS, OperationsOS and related tools designed to support business-to-business prospecting, account-based marketing, data management and revenue operations.