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

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.000-1.020 for the period, compared to the consensus estimate of 1.000. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. ZoomInfo Technologies also updated its Q2 2024 guidance to 0.230-0.240 EPS.

Analyst Upgrades and Downgrades

ZI has been the subject of several research reports. The Goldman Sachs Group lowered ZoomInfo Technologies from a neutral rating to a sell rating and reduced their price objective for the stock from $19.50 to $12.00 in a research note on Wednesday. Needham & Company LLC reaffirmed a buy rating and set a $25.00 price objective on shares of ZoomInfo Technologies in a research note on Wednesday. Wells Fargo & Company dropped their target price on shares of ZoomInfo Technologies from $28.00 to $21.00 and set an overweight rating on the stock in a research report on Wednesday. Barclays lowered their price objective on shares of ZoomInfo Technologies from $19.00 to $15.00 and set an equal weight rating on the stock in a research report on Wednesday. Finally, Truist Financial raised their target price on ZoomInfo Technologies from $16.00 to $20.00 and gave the stock a hold rating in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, ZoomInfo Technologies currently has a consensus rating of Hold and an average target price of $19.00.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI traded up $0.44 during mid-day trading on Thursday, hitting $12.58. 10,405,444 shares of the company’s stock traded hands, compared to its average volume of 6,559,160. ZoomInfo Technologies has a 12 month low of $11.67 and a 12 month high of $30.16. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 46.59, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. The firm has a 50 day moving average of $15.92 and a two-hundred day moving average of $15.87. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. ZoomInfo Technologies had a net margin of 8.66% and a return on equity of 11.25%. The company had revenue of $316.40 million for the quarter, compared to analyst estimates of $310.62 million. During the same period last year, the business posted $0.13 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that ZoomInfo Technologies 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.