ZoomInfo Technologies (NASDAQ:ZI) Releases FY 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.920-0.930 for the period, compared to the consensus earnings per share estimate of 0.880. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. ZoomInfo Technologies also updated its Q4 guidance to $0.22-0.23 EPS.

ZoomInfo Technologies Trading Up 3.4 %

ZI traded up $0.43 during trading hours on Tuesday, reaching $13.08. 20,450,330 shares of the company’s stock traded hands, compared to its average volume of 6,779,872. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $11.39. ZoomInfo Technologies has a 52-week low of $7.65 and a 52-week high of $19.39. The firm has a market capitalization of $4.78 billion, a PE ratio of 316.25, a PEG ratio of 7.34 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

Wall Street Analyst Weigh In

ZI has been the topic of several recent research reports. Raymond James cut ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Barclays decreased their target price on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Truist Financial dropped their price target on ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. DA Davidson cut shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $9.50 in a report on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price objective on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.61.

ZoomInfo Technologies Company Profile

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.