Citigroup Cuts ZoomInfo Technologies (NASDAQ:ZI) Price Target to $11.00

ZoomInfo Technologies (NASDAQ:ZI) had its price objective decreased by Citigroup from $13.00 to $11.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s target price would suggest a potential downside of 12.56% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of ZoomInfo Technologies from $28.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday. Morgan Stanley lowered their price target 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. Mizuho downgraded ZoomInfo Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $14.00 in a report on Wednesday. Finally, The Goldman Sachs Group downgraded shares of ZoomInfo Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $19.50 to $12.00 in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.00.

ZoomInfo Technologies Trading Up 3.6 %

ZoomInfo Technologies stock traded up $0.44 during mid-day trading on Thursday, reaching $12.58. 10,402,842 shares of the company traded hands, compared to its average volume of 6,547,071. The firm’s 50 day moving average price is $15.92 and its 200 day moving average price is $15.87. ZoomInfo Technologies has a 52-week low of $11.67 and a 52-week high of $30.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 46.59, a P/E/G ratio of 4.28 and a beta of 1.13.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings data 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. 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%. During the same quarter in the prior year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts anticipate that ZoomInfo Technologies will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.