ZoomInfo Technologies (NASDAQ:ZI) Sets New 1-Year Low on Analyst Downgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares hit a new 52-week low on Wednesday after Citigroup lowered their price target on the stock from $13.00 to $11.00. Citigroup currently has a sell rating on the stock. ZoomInfo Technologies traded as low as $11.82 and last traded at $11.92, with a volume of 9556964 shares changing hands. The stock had previously closed at $16.02.

Several other equities research analysts have also commented on the stock. KeyCorp lowered their price target on shares of ZoomInfo Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial upped their price target on shares of ZoomInfo Technologies from $16.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, February 13th. Morgan Stanley decreased their price objective on shares of ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. UBS Group decreased their price objective 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. Finally, Jefferies Financial Group began coverage on shares of ZoomInfo Technologies in a research report on Wednesday, February 7th. They issued a “buy” rating and a $20.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, ZoomInfo Technologies presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Hedge Funds Weigh In On ZoomInfo Technologies

A number of hedge funds have recently made changes to their positions in ZI. Qsemble Capital Management LP acquired a new position in shares of ZoomInfo Technologies in the first quarter worth $272,000. 49 Wealth Management LLC lifted its position in ZoomInfo Technologies by 11.3% in the first quarter. 49 Wealth Management LLC now owns 13,345 shares of the company’s stock valued at $214,000 after acquiring an additional 1,360 shares during the last quarter. River Global Investors LLP purchased a new stake in ZoomInfo Technologies in the first quarter valued at $714,000. Oppenheimer Asset Management Inc. lifted its position in ZoomInfo Technologies by 3.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 103,431 shares of the company’s stock valued at $1,658,000 after acquiring an additional 3,635 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in ZoomInfo Technologies in the first quarter valued at $183,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Trading Up 3.6 %

The stock has a market capitalization of $4.78 billion, a PE ratio of 46.59, a PEG ratio of 4.28 and a beta of 1.13. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average is $15.92 and its two-hundred day moving average is $15.87.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. ZoomInfo Technologies had a net margin of 8.66% and a return on equity of 11.25%. The firm had revenue of $316.40 million during the quarter, compared to analysts’ expectations of $310.62 million. During the same period in the previous year, the company earned $0.13 earnings per share. ZoomInfo Technologies’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts anticipate that ZoomInfo Technologies Inc. will post 0.64 earnings per share for the current fiscal year.

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.