ZoomInfo Technologies (NASDAQ:ZI) Cut to “Underperform” at Bank of America

Bank of America cut shares of ZoomInfo Technologies (NASDAQ:ZI) from a buy rating to an underperform rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Bank of America currently has $8.00 price objective on the stock, down from their previous price objective of $23.00.

ZI has been the subject of several other research reports. Morgan Stanley decreased their target price on ZoomInfo Technologies from $20.00 to $18.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Needham & Company LLC reiterated a buy rating and issued a $25.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday, May 8th. Barclays decreased their price target on ZoomInfo Technologies from $19.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, May 8th. Piper Sandler decreased their price target on ZoomInfo Technologies from $15.00 to $14.00 and set a neutral rating for the company in a research report on Friday, July 12th. Finally, KeyCorp decreased their price target on ZoomInfo Technologies from $20.00 to $18.00 and set an overweight 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 given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $13.63.

ZoomInfo Technologies Trading Up 2.9 %

Shares of ZI stock opened at $8.95 on Tuesday. The stock has a 50-day simple moving average of $11.70 and a 200 day simple moving average of $14.23. ZoomInfo Technologies has a fifty-two week low of $7.65 and a fifty-two week high of $19.39. The stock has a market capitalization of $3.35 billion, a P/E ratio of 44.75, a P/E/G ratio of 1.93 and a beta of 1.06. The company has a quick ratio of 1.11, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

ZoomInfo Technologies (NASDAQ:ZI) last announced its earnings results on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.07). ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $307.68 million. During the same period in the prior year, the business earned $0.16 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts expect that ZoomInfo Technologies will post 0.69 earnings per share for the current fiscal year.

Insider Transactions at ZoomInfo Technologies

In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 1,279,023 shares of the company’s stock, valued at approximately $16,345,913.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Peter Cameron Hyzer sold 7,500 shares of the business’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 value of $95,850.00. Following the completion of the sale, the chief financial officer now directly owns 1,279,023 shares in the company, valued at approximately $16,345,913.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Ali Dasdan sold 5,862 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $11.90, for a total value of $69,757.80. Following the completion of the sale, the chief technology officer now owns 87,540 shares of the company’s stock, valued at $1,041,726. The disclosure for this sale can be found here. Insiders sold 23,974 shares of company stock valued at $298,154 in the last three months. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in shares of ZoomInfo Technologies by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 275,505 shares of the company’s stock worth $3,518,000 after buying an additional 3,023 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of ZoomInfo Technologies by 4.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 108,002 shares of the company’s stock valued at $1,379,000 after purchasing an additional 4,571 shares during the period. Federated Hermes Inc. increased its position in shares of ZoomInfo Technologies by 11.3% during the second quarter. Federated Hermes Inc. now owns 1,160,649 shares of the company’s stock valued at $14,821,000 after purchasing an additional 118,286 shares during the period. Prevail Innovative Wealth Advisors LLC increased its position in shares of ZoomInfo Technologies by 160.9% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 360,306 shares of the company’s stock valued at $4,601,000 after purchasing an additional 222,222 shares during the period. Finally, Qsemble Capital Management LP increased its position in shares of ZoomInfo Technologies by 268.2% during the second quarter. Qsemble Capital Management LP now owns 62,517 shares of the company’s stock valued at $798,000 after purchasing an additional 45,539 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.