The Goldman Sachs Group Lowers ZoomInfo Technologies (NASDAQ:ZI) to Sell

ZoomInfo Technologies (NASDAQ:ZI) was downgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $12.00 target price on the stock, down from their prior target price of $19.50. The Goldman Sachs Group’s price target suggests a potential downside of 25.09% from the company’s current price.

A number of other brokerages have also recently commented on ZI. Barclays lowered their target price on ZoomInfo Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company lifted their price objective on ZoomInfo Technologies from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Royal Bank of Canada restated an “underperform” rating and issued a $14.00 target price on shares of ZoomInfo Technologies in a report on Tuesday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of ZoomInfo Technologies in a report on Tuesday, February 20th. Finally, Morgan Stanley reduced their price objective on shares of ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.15.

ZoomInfo Technologies Price Performance

Shares of NASDAQ:ZI opened at $16.02 on Wednesday. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 59.34, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.35 and a quick ratio of 1.35. The business’s 50 day simple moving average is $16.04 and its 200-day simple moving average is $15.90. ZoomInfo Technologies has a 12 month low of $12.36 and a 12 month high of $30.16.

ZoomInfo Technologies (NASDAQ:ZI) last posted its earnings results on Monday, February 12th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The company had revenue of $316.40 million for the quarter, compared to the consensus estimate of $310.62 million. During the same period in the previous year, the business earned $0.13 earnings per share. ZoomInfo Technologies’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that ZoomInfo Technologies will post 0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZoomInfo Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of ZoomInfo Technologies by 64.2% during the 4th quarter. Fifth Third Bancorp now owns 1,653 shares of the company’s stock valued at $31,000 after buying an additional 646 shares during the period. GAMMA Investing LLC purchased a new stake in shares of ZoomInfo Technologies during the 4th quarter valued at about $43,000. International Assets Investment Management LLC raised its holdings in shares of ZoomInfo Technologies by 792.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,310 shares of the company’s stock valued at $61,000 after buying an additional 2,939 shares during the period. Quest Partners LLC purchased a new stake in shares of ZoomInfo Technologies during the 4th quarter valued at about $62,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of ZoomInfo Technologies by 85.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,885 shares of the company’s stock valued at $72,000 after buying an additional 1,786 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

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.