ZoomInfo Technologies (NASDAQ:ZI) Downgraded to “Sell” at Citigroup

Citigroup cut shares of ZoomInfo Technologies (NASDAQ:ZIFree Report) from a neutral rating to a sell rating in a report issued on Thursday, Marketbeat reports. Citigroup currently has $13.00 target price on the stock, down from their prior target price of $20.00.

Several other research firms have also weighed in on ZI. Jefferies Financial Group began coverage on ZoomInfo Technologies in a research note on Wednesday. They set a buy rating and a $20.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on ZoomInfo Technologies from $26.00 to $22.00 and set an overweight rating for the company in a report on Tuesday, October 31st. Truist Financial cut their target price on ZoomInfo Technologies from $24.00 to $16.00 and set a hold rating on the stock in a report on Tuesday, October 31st. Bank of America upgraded ZoomInfo Technologies from a neutral rating to a buy rating and raised their target price for the company from $20.00 to $25.00 in a report on Monday, January 29th. Finally, 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 report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ZoomInfo Technologies currently has an average rating of Moderate Buy and a consensus price target of $20.84.

View Our Latest Stock Report on ZoomInfo Technologies

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI opened at $15.31 on Thursday. The firm has a market cap of $5.97 billion, a P/E ratio of 45.03, a PEG ratio of 3.40 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a fifty day moving average price of $16.56 and a two-hundred day moving average price of $16.78. ZoomInfo Technologies has a 1 year low of $12.36 and a 1 year high of $30.16.

Insider Buying and Selling at ZoomInfo Technologies

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 5,007 shares of ZoomInfo Technologies stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $14.69, for a total transaction of $73,552.83. Following the sale, the chief technology officer now directly owns 50,953 shares of the company’s stock, valued at $748,499.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. US Bancorp DE raised its position in ZoomInfo Technologies by 16.2% in the 1st quarter. US Bancorp DE now owns 13,497 shares of the company’s stock worth $807,000 after purchasing an additional 1,879 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in ZoomInfo Technologies by 78.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,357 shares of the company’s stock worth $678,000 after purchasing an additional 4,999 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 during the last quarter. Panagora Asset Management Inc. raised its position in ZoomInfo Technologies by 294.1% in the 1st quarter. Panagora Asset Management Inc. now owns 24,918 shares of the company’s stock worth $1,489,000 after purchasing an additional 18,596 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in ZoomInfo Technologies by 10.4% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 43,573 shares of the company’s stock worth $2,603,000 after purchasing an additional 4,118 shares during the last quarter. Institutional investors 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.

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