ZoomInfo Technologies (NASDAQ:ZI) Shares Up 4% – Time to Buy?

ZoomInfo Technologies Inc. (NASDAQ:ZI) rose 4% on Tuesday . The company traded as high as $13.17 and last traded at $13.16. Approximately 6,619,847 shares traded hands during trading, a decline of 2% from the average daily volume of 6,723,981 shares. The stock had previously closed at $12.65.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ZI shares. Deutsche Bank Aktiengesellschaft lowered their price objective on ZoomInfo Technologies from $17.00 to $12.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Citigroup lifted their target price on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a research report on Thursday. Piper Sandler upped their price objective on ZoomInfo Technologies from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday. Raymond James cut ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Finally, Barclays decreased their target price on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.84.

ZoomInfo Technologies Price Performance

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $11.36. The stock has a market cap of $3.86 billion, a PE ratio of 355.12, a PEG ratio of 8.00 and a beta of 1.03.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ZI. J.Safra Asset Management Corp increased its position in shares of ZoomInfo Technologies by 955.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after acquiring an additional 2,388 shares during the period. Raleigh Capital Management Inc. purchased a new stake in shares of ZoomInfo Technologies in the third quarter valued at approximately $31,000. Covestor Ltd grew its position in shares of ZoomInfo Technologies by 598.5% in the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after purchasing an additional 2,861 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ZoomInfo Technologies during the 3rd quarter worth approximately $37,000. Finally, GAMMA Investing LLC raised its holdings in shares of ZoomInfo Technologies by 114.9% during the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after acquiring an additional 2,134 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

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.