ZoomInfo Technologies (NASDAQ:GTM) Price Target Cut to $8.00 by Analysts at Needham & Company LLC

ZoomInfo Technologies (NASDAQ:GTM) had its price objective decreased by equities researchers at Needham & Company LLC from $15.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC‘s price objective indicates a potential upside of 87.79% from the company’s previous close.

Several other research firms also recently weighed in on GTM. Stifel Nicolaus upped their price target on ZoomInfo Technologies from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Wells Fargo & Company decreased their price target on ZoomInfo Technologies from $3.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, July 20th. Citigroup raised their price target on ZoomInfo Technologies from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Friday, August 7th. Piper Sandler raised shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $4.00 in a research report on Thursday. Finally, DA Davidson decreased their price target on shares of ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.53.

ZoomInfo Technologies Stock Performance

Shares of ZoomInfo Technologies stock opened at $4.26 on Thursday. ZoomInfo Technologies has a 1-year low of $2.54 and a 1-year high of $11.98. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.52. The business has a 50-day moving average price of $4.01 and a two-hundred day moving average price of $4.73. The company has a market cap of $1.24 billion, a P/E ratio of -2.29, a PEG ratio of 0.46 and a beta of 0.79.

ZoomInfo Technologies (NASDAQ:GTM) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.21 by $0.08. The company had revenue of $308.80 million during the quarter. ZoomInfo Technologies had a negative net margin of 43.01% and a positive return on equity of 20.16%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, analysts anticipate that ZoomInfo Technologies will post 0.83 EPS for the current year.

Insider Buying and Selling

In other ZoomInfo Technologies news, CRO James Roth sold 20,773 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $3.70, for a total transaction of $76,860.10. Following the transaction, the executive owned 270,507 shares of the company’s stock, valued at approximately $1,000,875.90. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,135 shares of company stock valued at $109,908 in the last 90 days. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On ZoomInfo Technologies

Several institutional investors have recently modified their holdings of GTM. Parallel Advisors LLC grew its holdings in ZoomInfo Technologies by 105.1% in the first quarter. Parallel Advisors LLC now owns 7,975 shares of the company’s stock valued at $48,000 after purchasing an additional 4,086 shares during the last quarter. GAMMA Investing LLC raised its position in ZoomInfo Technologies by 118.5% during the third quarter. GAMMA Investing LLC now owns 8,055 shares of the company’s stock worth $31,000 after acquiring an additional 4,369 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of ZoomInfo Technologies in the third quarter valued at about $40,000. May Hill Capital LLC acquired a new stake in shares of ZoomInfo Technologies in the third quarter valued at approximately $41,000. Finally, TSA Wealth Managment LLC acquired a new stake in shares of ZoomInfo Technologies in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

About ZoomInfo Technologies

ZoomInfo Technologies provides cloud-based go-to-market intelligence and sales-enablement software for businesses. Its platform helps organizations identify prospective customers, understand account and contact information, monitor business activity, and coordinate sales and marketing efforts. The company serves customers across a range of industries and geographies, primarily through subscription-based software services.

Its product portfolio has included SalesOS, MarketingOS, OperationsOS and related tools designed to support business-to-business prospecting, account-based marketing, data management and revenue operations.