Citigroup Raises ZoomInfo Technologies (NASDAQ:ZI) Price Target to $9.00

ZoomInfo Technologies (NASDAQ:ZI) had its target price hoisted by Citigroup from $8.50 to $9.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a sell rating on the stock.

ZI has been the subject of a number of other reports. Wells Fargo & Company restated an “equal weight” rating and set a $11.00 price objective (down from $14.00) on shares of ZoomInfo Technologies in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Piper Sandler reiterated an “underweight” rating and issued a $10.00 target price (down from $11.00) on shares of ZoomInfo Technologies in a research note on Monday, January 6th. KeyCorp downgraded shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Finally, Barclays cut their target price on shares of ZoomInfo Technologies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.15.

ZoomInfo Technologies Price Performance

ZI stock opened at $10.17 on Tuesday. The stock has a 50-day moving average price of $10.37 and a two-hundred day moving average price of $10.32. The stock has a market cap of $3.49 billion, a PE ratio of 339.11, a price-to-earnings-growth ratio of 13.57 and a beta of 1.01. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $18.69.

Insider Transactions at ZoomInfo Technologies

In related news, CTO Ali Dasdan sold 4,898 shares of ZoomInfo Technologies stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total value of $53,926.98. Following the transaction, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Randall Winn sold 290,541 shares of ZoomInfo Technologies stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the transaction, the director now directly owns 1,266,807 shares in the company, valued at $14,010,885.42. This trade represents a 18.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in ZoomInfo Technologies by 27.7% in the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock valued at $341,111,000 after acquiring an additional 7,177,687 shares during the last quarter. Pacer Advisors Inc. increased its stake in ZoomInfo Technologies by 38.7% in the third quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock valued at $95,716,000 after acquiring an additional 2,585,631 shares during the last quarter. State Street Corp increased its stake in ZoomInfo Technologies by 2.0% in the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock valued at $89,025,000 after acquiring an additional 165,440 shares during the last quarter. JPMorgan Chase & Co. boosted its position in ZoomInfo Technologies by 35.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,089,358 shares of the company’s stock valued at $63,999,000 after buying an additional 1,591,960 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in ZoomInfo Technologies by 70.4% in the fourth quarter. Primecap Management Co. CA now owns 4,371,901 shares of the company’s stock valued at $45,949,000 after buying an additional 1,806,461 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

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.