ZoomInfo Technologies (NASDAQ:GTM) Stock Price Target Lowered at Needham & Company LLC

ZoomInfo Technologies (NASDAQ:GTM) had its target price reduced by Needham & Company LLC from $15.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC‘s price target would suggest a potential upside of 87.79% from the company’s previous close.

A number of other analysts have also issued reports on GTM. DA Davidson dropped 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. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $3.00 to $4.00 in a research note on Thursday. Stifel Nicolaus raised their price target on ZoomInfo Technologies from $3.50 to $4.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. UBS Group dropped 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, Citigroup boosted 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. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.53.

ZoomInfo Technologies Stock Performance

Shares of GTM opened at $4.26 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of -2.29, a P/E/G ratio of 0.46 and a beta of 0.79. 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 stock has a fifty day moving average price of $4.01 and a 200-day moving average price of $4.73. ZoomInfo Technologies has a 12 month low of $2.54 and a 12 month high of $11.98.

ZoomInfo Technologies (NASDAQ:GTM) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $308.80 million during the quarter. During the same quarter in the prior year, the business posted $0.28 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that ZoomInfo Technologies will post 0.83 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO James Roth sold 20,773 shares of ZoomInfo Technologies stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $3.70, for a total value of $76,860.10. Following the completion of the sale, the executive owned 270,507 shares of the company’s stock, valued at approximately $1,000,875.90. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 29,135 shares of company stock worth $109,908. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its position in ZoomInfo Technologies by 18.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 18,502 shares of the company’s stock valued at $70,000 after buying an additional 2,882 shares during the last quarter. Ullmann Wealth Partners Group LLC lifted its position in ZoomInfo Technologies by 33.0% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 16,346 shares of the company’s stock valued at $62,000 after purchasing an additional 4,055 shares during the period. Parallel Advisors LLC lifted its position in ZoomInfo Technologies by 105.1% during the 1st quarter. Parallel Advisors LLC now owns 7,975 shares of the company’s stock valued at $48,000 after purchasing an additional 4,086 shares during the period. GAMMA Investing LLC grew its position in shares of ZoomInfo Technologies by 118.5% during the 3rd quarter. GAMMA Investing LLC now owns 8,055 shares of the company’s stock worth $31,000 after buying an additional 4,369 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of ZoomInfo Technologies by 13.3% during the first quarter. Pictet Asset Management Holding SA now owns 44,184 shares of the company’s stock worth $264,000 after buying an additional 5,203 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

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.