ZoomInfo Technologies (NASDAQ:ZI) Issues Earnings Results

ZoomInfo Technologies (NASDAQ:ZIGet Free Report) issued its earnings results on Monday. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01, MarketWatch Earnings reports. The business had revenue of $316.40 million during the quarter, compared to analysts’ expectations of $310.62 million. ZoomInfo Technologies had a net margin of 11.10% and a return on equity of 10.74%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. ZoomInfo Technologies updated its Q1 guidance to $0.23-0.24 EPS and its FY24 guidance to $0.99-1.01 EPS.

ZoomInfo Technologies Stock Performance

ZI opened at $16.02 on Tuesday. The firm has a 50 day moving average of $16.61 and a two-hundred day moving average of $16.51. ZoomInfo Technologies has a 12-month low of $12.36 and a 12-month high of $30.16. The firm has a market capitalization of $6.24 billion, a PE ratio of 47.12, a P/E/G ratio of 3.38 and a beta of 1.17. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Wall Street Analyst Weigh In

ZI has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of 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 decreased their price objective on shares of ZoomInfo Technologies from $24.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, October 31st. Morgan Stanley lowered shares of 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 research report on Thursday, February 1st. Raymond James cut their target price on shares of ZoomInfo Technologies from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, October 31st. Finally, Bank of America upgraded shares of ZoomInfo Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $25.00 in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.84.

Check Out Our Latest Research Report on ZI

Insider Activity at ZoomInfo Technologies

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 5,007 shares of ZoomInfo Technologies stock in a transaction on Monday, December 4th. The shares were sold at an average price of $14.69, for a total transaction of $73,552.83. Following the sale, the chief technology officer now owns 50,953 shares of the company’s stock, valued at approximately $748,499.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Morgan Stanley raised its holdings in shares of ZoomInfo Technologies by 7.7% during the 4th quarter. Morgan Stanley now owns 26,385,557 shares of the company’s stock worth $794,469,000 after acquiring an additional 1,879,587 shares during the period. Vanguard Group Inc. raised its holdings in shares of ZoomInfo Technologies by 8.0% during the 1st quarter. Vanguard Group Inc. now owns 23,082,415 shares of the company’s stock worth $1,378,944,000 after acquiring an additional 1,717,608 shares during the period. State Street Corp raised its holdings in shares of ZoomInfo Technologies by 62.6% during the 2nd quarter. State Street Corp now owns 9,077,886 shares of the company’s stock worth $230,488,000 after acquiring an additional 3,493,491 shares during the period. Geode Capital Management LLC raised its holdings in ZoomInfo Technologies by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 3,966,129 shares of the company’s stock valued at $97,876,000 after buying an additional 115,095 shares during the period. Finally, Macquarie Group Ltd. lifted its position in ZoomInfo Technologies by 52.4% in the first quarter. Macquarie Group Ltd. now owns 3,597,905 shares of the company’s stock valued at $88,904,000 after buying an additional 1,236,560 shares during the last quarter. Hedge funds and other institutional investors own 89.59% 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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Earnings History for ZoomInfo Technologies (NASDAQ:ZI)

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