ZoomInfo Technologies (NASDAQ:ZI – Get Free Report) issued an update on its first quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.23-0.24 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $307-310 million, compared to the consensus revenue estimate of $308.93 million. ZoomInfo Technologies also updated its FY24 guidance to $0.99-1.01 EPS.
ZoomInfo Technologies Trading Up 4.1 %
Shares of ZoomInfo Technologies stock traded up $0.63 on Monday, hitting $16.02. 14,373,804 shares of the company traded hands, compared to its average volume of 7,428,083. The stock’s 50 day moving average price is $16.58 and its 200-day moving average price is $16.57. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. ZoomInfo Technologies has a 52 week low of $12.36 and a 52 week high of $30.16. The company has a market cap of $6.24 billion, a PE ratio of 45.26, a PEG ratio of 3.38 and a beta of 1.17.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ZI. JPMorgan Chase & Co. reduced their price objective on shares of ZoomInfo Technologies from $26.00 to $22.00 and set an overweight rating for the company in a research note on Tuesday, October 31st. Canaccord Genuity Group reduced their price objective on shares of ZoomInfo Technologies from $26.00 to $21.00 and set a buy rating for the company in a research note on Tuesday, October 31st. Bank of America raised shares of ZoomInfo Technologies from a neutral rating to a buy rating and boosted their price objective for the stock from $20.00 to $25.00 in a research note on Monday, January 29th. Citigroup downgraded shares of ZoomInfo Technologies from a neutral rating to a sell rating and reduced their price objective for the stock from $20.00 to $13.00 in a research note on Thursday. Finally, Barclays lowered shares of ZoomInfo Technologies from an overweight rating to an equal weight rating and set a $18.00 price target on the stock. in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $20.84.
In other news, CTO Ali Dasdan sold 5,007 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $14.69, for a total value of $73,552.83. Following the completion of the sale, the chief technology officer now owns 50,953 shares of the company’s stock, valued at approximately $748,499.57. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.10% of the company’s stock.
Institutional Trading of ZoomInfo Technologies
Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of ZoomInfo Technologies by 84.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,910 shares of the company’s stock worth $31,000 after purchasing an additional 876 shares during the period. Advisory Services Network LLC boosted its position in shares of ZoomInfo Technologies by 222.2% during the 1st quarter. Advisory Services Network LLC now owns 1,450 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Comerica Bank purchased a new stake in shares of ZoomInfo Technologies during the second quarter worth $42,000. UniSuper Management Pty Ltd purchased a new stake in shares of ZoomInfo Technologies during the second quarter worth $46,000. Finally, International Assets Investment Management LLC increased its position in shares of ZoomInfo Technologies by 792.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,310 shares of the company’s stock worth $61,000 after acquiring an additional 2,939 shares during the period. Hedge funds and other institutional investors own 89.59% of the company’s stock.
ZoomInfo Technologies Company Profile
ZoomInfo Technologies Inc, through 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.
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