ZoomInfo Technologies (NASDAQ:ZI) Issues Q3 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.210-0.220 for the period, compared to the consensus EPS estimate of 0.250. The company issued revenue guidance of $298.0 million-$301.0 million, compared to the consensus revenue estimate of $317.2 million. ZoomInfo Technologies also updated its FY 2024 guidance to 0.860-0.880 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their target price on shares of ZoomInfo Technologies from $14.00 to $9.00 and set a neutral rating on the stock in a research note on Tuesday. KeyCorp lowered shares of ZoomInfo Technologies from an overweight rating to a sector weight rating in a report on Tuesday. Citigroup dropped their price objective on ZoomInfo Technologies from $13.00 to $11.00 and set a sell rating for the company in a research note on Thursday, May 9th. The Goldman Sachs Group lowered shares of ZoomInfo Technologies from a neutral rating to a sell rating and lowered their price objective for the stock from $19.50 to $12.00 in a report on Wednesday, May 8th. Finally, UBS Group lowered their price target on shares of ZoomInfo Technologies from $19.00 to $16.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $13.83.

ZoomInfo Technologies Stock Down 20.0 %

ZI traded down $1.96 on Tuesday, hitting $7.84. The company had a trading volume of 33,922,313 shares, compared to its average volume of 6,458,386. ZoomInfo Technologies has a 12-month low of $7.65 and a 12-month high of $19.39. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 39.65, a P/E/G ratio of 2.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average price of $11.95 and a 200-day moving average price of $14.36.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.07). The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $307.68 million. ZoomInfo Technologies had a net margin of 6.24% and a return on equity of 12.00%. ZoomInfo Technologies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. Analysts predict that ZoomInfo Technologies will post 0.69 EPS for the current fiscal year.

Insider Activity

In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total transaction of $95,850.00. Following the completion of the transaction, the chief financial officer now directly owns 1,279,023 shares of the company’s stock, valued at approximately $16,345,913.94. The sale was disclosed in a filing with the SEC, which is available at this link. In other ZoomInfo Technologies news, CFO Peter Cameron Hyzer sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total transaction of $95,850.00. Following the completion of the transaction, the chief financial officer now owns 1,279,023 shares of the company’s stock, valued at $16,345,913.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Patrick Mader sold 3,112 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $12.78, for a total value of $39,771.36. Following the completion of the transaction, the director now owns 17,622 shares in the company, valued at approximately $225,209.16. The disclosure for this sale can be found here. Insiders sold a total of 23,974 shares of company stock valued at $298,154 in the last three months. 8.10% of the stock is currently owned by corporate insiders.

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.