ZoomInfo Technologies (NASDAQ:ZI) Price Target Cut to $20.00

ZoomInfo Technologies (NASDAQ:ZI) had its price target decreased by investment analysts at Canaccord Genuity Group from $22.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 66.67% from the company’s previous close.

Several other equities research analysts have also commented on ZI. Royal Bank of Canada restated an “underperform” rating and issued a $14.00 price target on shares of ZoomInfo Technologies in a research note on Tuesday, February 13th. 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 research report on Monday, January 29th. Barclays reduced their price target on ZoomInfo Technologies from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Jefferies Financial Group initiated coverage on ZoomInfo Technologies in a report on Wednesday, February 7th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of ZoomInfo Technologies from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.38.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI traded down $4.02 during trading on Wednesday, reaching $12.00. The stock had a trading volume of 19,929,339 shares, compared to its average volume of 6,414,993. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $4.56 billion, a PE ratio of 44.22, a P/E/G ratio of 4.28 and a beta of 1.13. ZoomInfo Technologies has a one year low of $11.67 and a one year high of $30.16. The firm’s 50 day moving average price is $16.04 and its two-hundred day moving average price is $15.90.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The business had revenue of $316.40 million during 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. On average, research analysts forecast that ZoomInfo Technologies will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of ZoomInfo Technologies

Several hedge funds and other institutional investors have recently modified their holdings of ZI. Qsemble Capital Management LP bought a new stake in ZoomInfo Technologies in the first quarter worth $272,000. 49 Wealth Management LLC increased its holdings in shares of ZoomInfo Technologies by 11.3% during the 1st quarter. 49 Wealth Management LLC now owns 13,345 shares of the company’s stock worth $214,000 after purchasing an additional 1,360 shares during the period. River Global Investors LLP acquired a new position in ZoomInfo Technologies in the 1st quarter valued at approximately $714,000. Oppenheimer Asset Management Inc. lifted its position in ZoomInfo Technologies by 3.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 103,431 shares of the company’s stock worth $1,658,000 after purchasing an additional 3,635 shares during the period. Finally, Sciencast Management LP bought a new position in shares of ZoomInfo Technologies during the 1st quarter worth about $183,000. 95.47% of the stock is currently owned by hedge funds and other 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.