ZoomInfo Technologies (NASDAQ:ZI) Sets New 1-Year Low on Analyst Downgrade

Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) reached a new 52-week low on Wednesday after Citigroup lowered their price target on the stock from $13.00 to $11.00. Citigroup currently has a sell rating on the stock. ZoomInfo Technologies traded as low as $11.82 and last traded at $11.92, with a volume of 9556964 shares. The stock had previously closed at $16.02.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus decreased their target price on ZoomInfo Technologies from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Canaccord Genuity Group decreased their price objective on ZoomInfo Technologies from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley reduced their target price on ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. DA Davidson increased their target price on ZoomInfo Technologies from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, UBS Group reduced their target price on ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.00.

Institutional Trading of ZoomInfo Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of ZoomInfo Technologies by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,741,205 shares of the company’s stock worth $553,356,000 after buying an additional 2,079,385 shares during the last quarter. Wellington Management Group LLP raised its position in ZoomInfo Technologies by 2.0% in the third quarter. Wellington Management Group LLP now owns 29,570,904 shares of the company’s stock worth $484,963,000 after acquiring an additional 586,623 shares during the period. FMR LLC boosted its stake in ZoomInfo Technologies by 180.0% in the third quarter. FMR LLC now owns 13,859,918 shares of the company’s stock valued at $227,303,000 after acquiring an additional 8,909,420 shares during the last quarter. Cadian Capital Management LP grew its position in shares of ZoomInfo Technologies by 110.7% during the 3rd quarter. Cadian Capital Management LP now owns 9,765,615 shares of the company’s stock valued at $160,156,000 after acquiring an additional 5,131,000 shares during the period. Finally, Coatue Management LLC purchased a new stake in shares of ZoomInfo Technologies during the 4th quarter worth approximately $120,619,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

ZoomInfo Technologies Price Performance

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 business’s fifty day moving average is $15.92 and its 200 day moving average is $15.87. The company has a market cap of $4.78 billion, a P/E ratio of 46.59, a PEG ratio of 4.28 and a beta of 1.13.

ZoomInfo Technologies (NASDAQ:ZI) last released its earnings results on Monday, February 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The business had revenue of $316.40 million during the quarter, compared to the consensus estimate of $310.62 million. During the same period last year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that ZoomInfo Technologies Inc. will post 0.64 EPS for the current 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.