ZoomInfo Technologies (NASDAQ:ZI) Price Target Lowered to $56.00 at Canaccord Genuity Group

ZoomInfo Technologies (NASDAQ:ZIGet Rating) had its target price lowered by equities researchers at Canaccord Genuity Group from $68.00 to $56.00 in a note issued to investors on Thursday, The Fly reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 17.33% from the stock’s current price.

Several other brokerages have also weighed in on ZI. Stifel Nicolaus cut their price objective on shares of ZoomInfo Technologies from $85.00 to $75.00 in a report on Tuesday, May 3rd. TheStreet lowered shares of ZoomInfo Technologies from a “c-” rating to a “d” rating in a report on Thursday, May 19th. Raymond James cut their price objective on shares of ZoomInfo Technologies from $70.00 to $65.00 in a report on Tuesday, May 3rd. Morgan Stanley cut their price objective on shares of ZoomInfo Technologies from $81.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Finally, Credit Suisse Group lowered their target price on shares of ZoomInfo Technologies from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday. Eighteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.89.

ZoomInfo Technologies Price Performance

Shares of ZI stock opened at $47.73 on Thursday. ZoomInfo Technologies has a 1 year low of $30.31 and a 1 year high of $79.17. The firm’s 50 day moving average is $37.33 and its 200-day moving average is $46.48. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 176.78, a PEG ratio of 2.68 and a beta of 1.62. The company has a current ratio of 1.08, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

ZoomInfo Technologies (NASDAQ:ZIGet Rating) last announced its earnings results on Monday, August 1st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. ZoomInfo Technologies had a net margin of 13.61% and a return on equity of 7.16%. The company had revenue of $267.10 million for the quarter, compared to analyst estimates of $254.45 million. During the same period in the prior year, the business earned $0.11 earnings per share. ZoomInfo Technologies’s quarterly revenue was up 53.5% on a year-over-year basis. Sell-side analysts forecast that ZoomInfo Technologies will post 0.48 EPS for the current fiscal year.

Insider Transactions at ZoomInfo Technologies

In other news, major shareholder Subsidiary Holdings L.L.C. Cg sold 14,852 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $45.02, for a total transaction of $668,637.04. Following the completion of the sale, the insider now owns 41,656,293 shares of the company’s stock, valued at $1,875,366,310.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Henry Schuck sold 48,264 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $42.05, for a total value of $2,029,501.20. Following the completion of the transaction, the chief executive officer now owns 15,431,762 shares of the company’s stock, valued at $648,905,592.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Subsidiary Holdings L.L.C. Cg sold 14,852 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $45.02, for a total transaction of $668,637.04. Following the completion of the transaction, the insider now directly owns 41,656,293 shares of the company’s stock, valued at approximately $1,875,366,310.86. The disclosure for this sale can be found here. Insiders sold 310,346 shares of company stock valued at $13,303,170 over the last quarter. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ZI. State Board of Administration of Florida Retirement System grew its position in shares of ZoomInfo Technologies by 1,909.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 190,375 shares of the company’s stock valued at $6,328,000 after acquiring an additional 180,900 shares during the period. M&T Bank Corp bought a new position in shares of ZoomInfo Technologies in the 2nd quarter valued at about $311,000. Los Angeles Capital Management LLC grew its position in shares of ZoomInfo Technologies by 197.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 150,924 shares of the company’s stock valued at $5,017,000 after acquiring an additional 100,162 shares during the period. abrdn plc grew its position in shares of ZoomInfo Technologies by 1,257.1% in the 2nd quarter. abrdn plc now owns 134,731 shares of the company’s stock valued at $4,478,000 after acquiring an additional 124,803 shares during the period. Finally, Altfest L J & Co. Inc. grew its position in shares of ZoomInfo Technologies by 36.5% in the 2nd quarter. Altfest L J & Co. Inc. now owns 6,315 shares of the company’s stock valued at $210,000 after acquiring an additional 1,690 shares during the period. Institutional investors own 82.92% of the company’s stock.

ZoomInfo Technologies Company Profile

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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.

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