ZoomInfo Technologies (NASDAQ:ZI) Stock Price Up 7.2% After Analyst Upgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price traded up 7.2% on Thursday after Scotiabank raised their price target on the stock from $10.30 to $11.00. Scotiabank currently has a sector perform rating on the stock. ZoomInfo Technologies traded as high as $12.55 and last traded at $12.58. 5,627,040 shares traded hands during trading, a decline of 21% from the average session volume of 7,143,709 shares. The stock had previously closed at $11.73.

A number of other brokerages have also recently issued reports on ZI. Stifel Nicolaus upped their target price on ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group upped their price objective on shares of ZoomInfo Technologies from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lifted their target price on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, February 11th. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and upped their price target for the company from $10.00 to $11.00 in a report on Wednesday. Finally, KeyCorp downgraded ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ZoomInfo Technologies has a consensus rating of “Hold” and a consensus target price of $11.92.

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 4,898 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total transaction of $53,926.98. Following the sale, the chief technology officer now owns 118,659 shares in the company, valued at approximately $1,306,435.59. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Randall Winn sold 290,541 shares of the business’s 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 transaction, the director now owns 1,266,807 shares of the company’s stock, valued at approximately $14,010,885.42. This represents a 18.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of ZoomInfo Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning bought a new position in shares of ZoomInfo Technologies during the third quarter valued at $254,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ZoomInfo Technologies in the third quarter valued at about $37,000. State of Alaska Department of Revenue lifted its stake in shares of ZoomInfo Technologies by 7.1% in the third quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock worth $353,000 after acquiring an additional 2,275 shares during the period. US Bancorp DE lifted its position in shares of ZoomInfo Technologies by 164.7% in the 3rd quarter. US Bancorp DE now owns 12,742 shares of the company’s stock worth $131,000 after purchasing an additional 7,928 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in ZoomInfo Technologies by 37.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 202,406 shares of the company’s stock valued at $2,089,000 after acquiring an additional 55,150 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

ZoomInfo Technologies Price Performance

The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 388.20, a P/E/G ratio of 13.05 and a beta of 1.01. The business has a 50 day moving average price of $10.28 and a 200-day moving average price of $10.34. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The company had revenue of $309.10 million for the quarter, compared to analyst estimates of $297.64 million. Research analysts predict that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

About ZoomInfo Technologies

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.