ZoomInfo Technologies (NASDAQ:ZI) Given New $70.00 Price Target at Truist

ZoomInfo Technologies (NASDAQ:ZI) had its price target raised by stock analysts at Truist from $67.00 to $70.00 in a research report issued on Tuesday, The Fly reports. Truist’s price target would indicate a potential upside of 46.78% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Barclays raised their price objective on shares of ZoomInfo Technologies from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Credit Suisse Group raised their price objective on shares of ZoomInfo Technologies from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Stephens reissued a “buy” rating and set a $60.00 price objective on shares of ZoomInfo Technologies in a research report on Monday, January 25th. Mizuho raised their price objective on shares of ZoomInfo Technologies from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, February 23rd. Finally, Morgan Stanley raised their price objective on shares of ZoomInfo Technologies from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, March 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. ZoomInfo Technologies presently has a consensus rating of “Buy” and a consensus price target of $60.00.

NASDAQ:ZI traded down $2.22 during midday trading on Tuesday, hitting $47.69. 64,835 shares of the company were exchanged, compared to its average volume of 2,199,222. The company has a fifty day simple moving average of $49.72 and a 200 day simple moving average of $47.32. ZoomInfo Technologies has a fifty-two week low of $30.83 and a fifty-two week high of $64.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.57 and a quick ratio of 1.57.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Sunday, May 2nd. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $153.30 million for the quarter, compared to analyst estimates of $145.49 million. The company’s quarterly revenue was up 50.3% on a year-over-year basis.

In other news, major shareholder Kirk Norman Brown sold 494,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $49.68, for a total value of $24,541,920.00. Following the completion of the transaction, the insider now owns 494,000 shares of the company’s stock, valued at $24,541,920. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Todd Crockett sold 1,734,233 shares of the business’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $54.03, for a total transaction of $93,700,608.99. The disclosure for this sale can be found here. In the last three months, insiders sold 4,798,274 shares of company stock valued at $257,876,057.

Hedge funds have recently modified their holdings of the stock. Ironwood Wealth Management LLC. acquired a new position in ZoomInfo Technologies during the fourth quarter worth approximately $29,000. Ancora Advisors LLC purchased a new stake in ZoomInfo Technologies during the fourth quarter worth approximately $48,000. IFP Advisors Inc grew its stake in ZoomInfo Technologies by 3,232.5% during the fourth quarter. IFP Advisors Inc now owns 1,333 shares of the company’s stock worth $64,000 after buying an additional 1,293 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in ZoomInfo Technologies in the fourth quarter valued at $69,000. Finally, Guinness Atkinson Asset Management Inc raised its holdings in ZoomInfo Technologies by 900.0% in the first quarter. Guinness Atkinson Asset Management Inc now owns 1,850 shares of the company’s stock valued at $90,000 after acquiring an additional 1,665 shares in the last quarter.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies Inc operates cloud-based go-to-market intelligence platform for sales and marketing teams worldwide. The company's platform provides information and insights on the organizations and professionals. Its customers operate in various industry verticals, including software, business services, manufacturing, telecommunications, financial services, media and internet, transportation, education, hospitality, and real estate, as well as enterprises, mid-market companies, and down to small businesses.

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Analyst Recommendations for ZoomInfo Technologies (NASDAQ:ZI)

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