Piper Sandler Downgrades ZoomInfo Technologies (NASDAQ:ZI) to Neutral

ZoomInfo Technologies (NASDAQ:ZI) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $15.00 target price on the stock, down from their prior target price of $24.00. Piper Sandler’s price objective would suggest a potential upside of 19.24% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group began coverage on shares of ZoomInfo Technologies in a research note on Wednesday, February 7th. They set a “buy” rating and a $20.00 target price on the stock. 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 note on Monday, January 29th. Citigroup downgraded ZoomInfo Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $20.00 to $13.00 in a research note on Thursday, February 8th. DA Davidson raised their price objective on ZoomInfo Technologies from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of ZoomInfo Technologies in a research report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.00.

ZoomInfo Technologies Stock Performance

ZI stock opened at $12.58 on Wednesday. The firm has a market cap of $4.78 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. 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 50-day moving average price of $15.92 and a 200-day moving average price of $15.87. ZoomInfo Technologies has a 1-year low of $11.67 and a 1-year high of $30.16.

ZoomInfo Technologies (NASDAQ:ZI) last issued 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 business had revenue of $316.40 million during the quarter, compared to the consensus estimate of $310.62 million. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. As a group, equities research analysts expect that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Institutional Trading of ZoomInfo Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ZI. SG Americas Securities LLC acquired a new position in shares of ZoomInfo Technologies during the third quarter worth $203,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of ZoomInfo Technologies by 135,227.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 93,376 shares of the company’s stock worth $1,531,000 after purchasing an additional 93,307 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in ZoomInfo Technologies by 6.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,059 shares of the company’s stock valued at $936,000 after acquiring an additional 3,684 shares during the period. Bank of New York Mellon Corp boosted its holdings in ZoomInfo Technologies by 10.0% in the third quarter. Bank of New York Mellon Corp now owns 3,301,376 shares of the company’s stock valued at $54,143,000 after purchasing an additional 300,341 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of ZoomInfo Technologies by 28.1% in the 3rd quarter. New York State Teachers Retirement System now owns 243,685 shares of the company’s stock valued at $3,996,000 after buying an additional 53,475 shares during the period. Institutional investors own 95.47% of the company’s stock.

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.