ZoomInfo Technologies (NASDAQ:ZI – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $0.99-1.01 for the period, compared to the consensus EPS estimate of $1.00. The company issued revenue guidance of $1.26-1.28 billion, compared to the consensus revenue estimate of $1.28 billion. ZoomInfo Technologies also updated its Q1 guidance to $0.23-0.24 EPS.
ZoomInfo Technologies Trading Up 4.1 %
Shares of ZI stock traded up $0.63 during mid-day trading on Monday, hitting $16.02. The company’s stock had a trading volume of 14,373,804 shares, compared to its average volume of 7,428,083. The company’s fifty day simple moving average is $16.58 and its 200-day simple moving average is $16.57. ZoomInfo Technologies has a 52 week low of $12.36 and a 52 week high of $30.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $6.24 billion, a PE ratio of 45.26, a P/E/G ratio of 3.38 and a beta of 1.17.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ZI shares. Mizuho lowered their price objective on ZoomInfo Technologies from $30.00 to $23.00 and set a buy rating for the company in a research report on Tuesday, October 31st. Bank of America raised ZoomInfo Technologies from a neutral rating to a buy rating and boosted their target price for the company from $20.00 to $25.00 in a research report on Monday, January 29th. Canaccord Genuity Group decreased their target price on ZoomInfo Technologies from $26.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, October 31st. Stifel Nicolaus decreased their target price on ZoomInfo Technologies from $27.00 to $20.00 and set a buy rating for the company in a research report on Tuesday, October 31st. Finally, Jefferies Financial Group assumed coverage on ZoomInfo Technologies in a research report on Wednesday, February 7th. They issued a buy rating and a $20.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $20.84.
Insider Transactions at ZoomInfo Technologies
In other news, CTO Ali Dasdan sold 5,007 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $14.69, for a total value of $73,552.83. Following the transaction, the chief technology officer now owns 50,953 shares in the company, valued at approximately $748,499.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.10% of the company’s stock.
Hedge Funds Weigh In On ZoomInfo Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of ZI. Advisors Asset Management Inc. raised its holdings in shares of ZoomInfo Technologies by 84.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,910 shares of the company’s stock worth $31,000 after purchasing an additional 876 shares during the period. Advisory Services Network LLC raised its holdings in shares of ZoomInfo Technologies by 222.2% in the 1st quarter. Advisory Services Network LLC now owns 1,450 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Comerica Bank bought a new stake in shares of ZoomInfo Technologies in the 2nd quarter worth approximately $42,000. UniSuper Management Pty Ltd bought a new stake in shares of ZoomInfo Technologies in the 2nd quarter worth approximately $46,000. Finally, International Assets Investment Management LLC raised its holdings in shares of ZoomInfo Technologies by 792.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,310 shares of the company’s stock worth $61,000 after purchasing an additional 2,939 shares during the period. Hedge funds and other institutional investors own 89.59% of the company’s stock.
ZoomInfo Technologies Company Profile
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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