Credit Suisse Group Lowers ZoomInfo Technologies (NASDAQ:ZI) Price Target to $80.00

ZoomInfo Technologies (NASDAQ:ZIGet Rating) had its price target cut by Credit Suisse Group from $100.00 to $80.00 in a research note published on Tuesday, The Fly reports. They currently have an outperform rating on the stock.

ZI has been the subject of a number of other research reports. Raymond James reduced their target price on ZoomInfo Technologies from $70.00 to $65.00 in a report on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on ZoomInfo Technologies from $80.00 to $75.00 in a research report on Tuesday, May 3rd. Piper Sandler raised their price target on ZoomInfo Technologies from $50.00 to $54.00 and gave the company an overweight rating in a report on Tuesday. Barclays reduced their target price on ZoomInfo Technologies from $64.00 to $50.00 and set an overweight rating on the stock in a report on Monday, July 18th. Finally, Morgan Stanley reduced their price objective on ZoomInfo Technologies from $81.00 to $66.00 and set an overweight rating on the stock in a research note on Thursday, July 14th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $69.89.

ZoomInfo Technologies Price Performance

Shares of NASDAQ ZI opened at $47.73 on Tuesday. The stock’s 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $46.48. ZoomInfo Technologies has a twelve month low of $30.31 and a twelve month high of $79.17. The company has a quick ratio of 1.20, a current ratio of 1.08 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $19.25 billion, a P/E ratio of 176.78, a P/E/G ratio of 2.68 and a beta of 1.62.

ZoomInfo Technologies (NASDAQ:ZIGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. ZoomInfo Technologies had a return on equity of 7.16% and a net margin of 13.61%. The company had revenue of $267.10 million during the quarter, compared to analysts’ expectations of $254.45 million. During the same period in the prior year, the business posted $0.11 EPS. ZoomInfo Technologies’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, equities analysts anticipate that ZoomInfo Technologies will post 0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CEO Henry Schuck sold 48,264 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $42.05, for a total transaction of $2,029,501.20. Following the sale, the chief executive officer now directly owns 15,431,762 shares in the company, valued at approximately $648,905,592.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Henry Schuck sold 48,264 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $42.05, for a total transaction of $2,029,501.20. Following the sale, the chief executive officer now owns 15,431,762 shares in the company, valued at $648,905,592.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph Christopher Hays sold 57,213 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $43.33, for a total transaction of $2,479,039.29. Following the transaction, the chief operating officer now directly owns 681,825 shares in the company, valued at $29,543,477.25. The disclosure for this sale can be found here. Insiders sold a total of 310,346 shares of company stock valued at $13,303,170 in the last ninety days. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

A number of hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its position in shares of ZoomInfo Technologies by 1,909.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 190,375 shares of the company’s stock valued at $6,328,000 after acquiring an additional 180,900 shares during the period. M&T Bank Corp bought a new position in shares of ZoomInfo Technologies in the second quarter valued at $311,000. Los Angeles Capital Management LLC grew its stake in shares of ZoomInfo Technologies by 197.3% in the second quarter. Los Angeles Capital Management LLC now owns 150,924 shares of the company’s stock valued at $5,017,000 after buying an additional 100,162 shares in the last quarter. abrdn plc boosted its position in ZoomInfo Technologies by 1,257.1% during the second quarter. abrdn plc now owns 134,731 shares of the company’s stock worth $4,478,000 after purchasing an additional 124,803 shares during the period. Finally, Altfest L J & Co. Inc. lifted its holdings in shares of ZoomInfo Technologies by 36.5% during the second quarter. Altfest L J & Co. Inc. now owns 6,315 shares of the company’s stock worth $210,000 after buying an additional 1,690 shares in the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.

ZoomInfo Technologies Company Profile

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ZoomInfo Technologies Inc, through 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.

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