ZoomInfo Technologies (NASDAQ:GTM) Raised to “Neutral” at Piper Sandler

ZoomInfo Technologies (NASDAQ:GTM) was upgraded by equities research analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $4.00 target price on the stock. Piper Sandler‘s price target suggests a potential downside of 6.10% from the stock’s current price.

GTM has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on ZoomInfo Technologies from $3.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, July 20th. Citigroup boosted their price objective on ZoomInfo Technologies from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Friday, August 7th. DA Davidson decreased their target price on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Stifel Nicolaus raised their target price on ZoomInfo Technologies from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, UBS Group cut their price target on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, ZoomInfo Technologies presently has an average rating of “Reduce” and an average price target of $5.38.

ZoomInfo Technologies Stock Performance

NASDAQ GTM opened at $4.26 on Thursday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 5.05, a PEG ratio of 0.46 and a beta of 0.79. The company has a 50 day moving average of $4.01 and a 200-day moving average of $4.73. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.52. ZoomInfo Technologies has a 1-year low of $2.54 and a 1-year high of $11.98.

ZoomInfo Technologies (NASDAQ:GTM) last posted its earnings results on Wednesday, November 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, equities analysts forecast that ZoomInfo Technologies will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CRO James Roth sold 20,773 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $3.70, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,135 shares of company stock valued at $109,908 in the last three months. 9.90% of the stock is owned by company insiders.

Institutional Trading of ZoomInfo Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. RPD Fund Management LLC raised its holdings in ZoomInfo Technologies by 78.6% in the first quarter. RPD Fund Management LLC now owns 17,199,109 shares of the company’s stock worth $102,851,000 after purchasing an additional 7,570,791 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of ZoomInfo Technologies by 24.7% during the first quarter. Dimensional Fund Advisors LP now owns 15,100,675 shares of the company’s stock worth $90,302,000 after purchasing an additional 2,992,276 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of ZoomInfo Technologies by 127.7% in the 1st quarter. Quantinno Capital Management LP now owns 4,144,952 shares of the company’s stock valued at $24,787,000 after buying an additional 2,324,381 shares during the period. Bank of America Corp DE grew its holdings in shares of ZoomInfo Technologies by 81.1% in the 1st quarter. Bank of America Corp DE now owns 1,898,951 shares of the company’s stock valued at $11,356,000 after buying an additional 850,386 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of ZoomInfo Technologies by 19.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,390,451 shares of the company’s stock valued at $5,270,000 after buying an additional 226,857 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

ZoomInfo Technologies Company Profile

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.