Morgan Stanley Lowers ZoomInfo Technologies (NASDAQ:ZI) Price Target to $18.00

ZoomInfo Technologies (NASDAQ:ZI) had its target price reduced by stock analysts at Morgan Stanley from $20.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 14.14% from the company’s current price.

Other research analysts also recently issued reports about the company. KeyCorp started coverage on ZoomInfo Technologies in a report on Thursday, March 21st. They set an “overweight” rating and a $20.00 target price on the stock. Royal Bank of Canada reissued an “underperform” rating and set a $14.00 target price on shares of ZoomInfo Technologies in a research report on Tuesday, February 13th. Stifel Nicolaus boosted their price target on shares of ZoomInfo Technologies from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Piper Sandler increased their price objective on shares of ZoomInfo Technologies from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, DA Davidson lifted their target price on shares of ZoomInfo Technologies from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.43.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI opened at $15.77 on Wednesday. The stock’s 50-day moving average is $16.30 and its 200-day moving average is $15.98. ZoomInfo Technologies has a 1-year low of $12.36 and a 1-year high of $30.16. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58. The stock has a market cap of $5.99 billion, a P/E ratio of 58.41, a price-to-earnings-growth ratio of 3.93 and a beta of 1.16.

ZoomInfo Technologies (NASDAQ:ZI) last posted its earnings results on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $316.40 million for the quarter, compared to analyst estimates of $310.62 million. ZoomInfo Technologies had a net margin of 8.66% and a return on equity of 11.25%. The company’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 firm posted $0.13 EPS. Equities research analysts anticipate that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of ZoomInfo Technologies during the 4th quarter valued at $28,000. Fifth Third Bancorp raised its position in shares of ZoomInfo Technologies by 64.2% in the fourth quarter. Fifth Third Bancorp now owns 1,653 shares of the company’s stock valued at $31,000 after purchasing an additional 646 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of ZoomInfo Technologies by 84.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,910 shares of the company’s stock valued at $31,000 after buying an additional 876 shares in the last quarter. Advisory Services Network LLC grew its stake in ZoomInfo Technologies by 222.2% in the 1st quarter. Advisory Services Network LLC now owns 1,450 shares of the company’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. Finally, Comerica Bank bought a new stake in ZoomInfo Technologies during the 2nd quarter valued at $42,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies Inc, together with 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.