Morgan Stanley Forecasts Strong Price Appreciation for ZoomInfo Technologies (NASDAQ:ZI) Stock

ZoomInfo Technologies (NASDAQ:ZI) had its price objective lifted by Morgan Stanley from $11.00 to $13.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler raised shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and upped their target price for the company from $10.00 to $11.00 in a research note on Wednesday. Scotiabank started coverage on shares of ZoomInfo Technologies in a research note on Monday, November 18th. They issued a “sector perform” rating and a $10.30 target price on the stock. KeyCorp cut shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Citigroup upped their target price on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the company a “sell” rating in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus upped their target price on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.88.

ZoomInfo Technologies Stock Up 23.1 %

Shares of ZI opened at $11.73 on Wednesday. The company has a 50-day simple moving average of $10.25 and a 200-day simple moving average of $10.33. The firm has a market capitalization of $4.03 billion, a P/E ratio of 391.13, a P/E/G ratio of 13.05 and a beta of 1.01. 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 has a 52 week low of $7.65 and a 52 week high of $17.45.

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

Insider Transactions at ZoomInfo Technologies

In other news, Director David Randall Winn sold 290,541 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 $14,010,885.42. This represents a 18.66 % 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, CTO Ali Dasdan sold 4,898 shares of the company’s stock in a transaction 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 in the company, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in ZoomInfo Technologies by 83.4% in the third quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock valued at $1,689,000 after buying an additional 74,455 shares during the period. Alberta Investment Management Corp acquired a new position in ZoomInfo Technologies in the fourth quarter valued at about $2,320,000. Versor Investments LP acquired a new position in ZoomInfo Technologies in the third quarter valued at about $516,000. State Street Corp lifted 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 buying an additional 165,440 shares during the period. Finally, XTX Topco Ltd acquired a new position in ZoomInfo Technologies in the third quarter valued at about $895,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.