ZoomInfo Technologies (NASDAQ:ZI) Releases FY24 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $0.86-0.88 for the period, compared to the consensus EPS estimate of $1.01. The company issued revenue guidance of $1.190-1.205 billion, compared to the consensus revenue estimate of $1.26 billion. ZoomInfo Technologies also updated its Q3 guidance to $0.21-0.22 EPS.

Analyst Ratings Changes

A number of research firms recently issued reports on ZI. Barclays reduced their price objective on ZoomInfo Technologies from $19.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, May 8th. The Goldman Sachs Group cut ZoomInfo Technologies from a neutral rating to a sell rating and lowered their price target for the company from $19.50 to $12.00 in a research note on Wednesday, May 8th. UBS Group cut their price objective on shares of ZoomInfo Technologies from $19.00 to $16.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Piper Sandler decreased their target price on shares of ZoomInfo Technologies from $15.00 to $14.00 and set a neutral rating for the company in a research report on Friday, July 12th. Finally, KeyCorp reduced their price objective on shares of ZoomInfo Technologies from $20.00 to $18.00 and set an overweight rating for the company in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $18.21.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI traded down $0.61 during trading hours on Monday, reaching $9.80. The stock had a trading volume of 15,214,363 shares, compared to its average volume of 6,272,526. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 2.50 and a beta of 1.06. The business’s fifty day moving average is $12.01 and its two-hundred day moving average is $14.40. ZoomInfo Technologies has a twelve month low of $9.58 and a twelve month high of $19.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.11.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. ZoomInfo Technologies had a net margin of 6.24% and a return on equity of 12.00%. The firm had revenue of $310.10 million during the quarter, compared to analysts’ expectations of $308.84 million. As a group, research analysts expect that ZoomInfo Technologies will post 0.69 EPS for the current year.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $12.37, for a total value of $92,775.00. Following the completion of the transaction, the chief financial officer now directly owns 1,316,518 shares of the company’s stock, valued at $16,285,327.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $12.37, for a total transaction of $92,775.00. Following the completion of the transaction, the chief financial officer now directly owns 1,316,518 shares of the company’s stock, valued at approximately $16,285,327.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Patrick Mader sold 3,112 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $12.78, for a total transaction of $39,771.36. Following the transaction, the director now owns 17,622 shares of the company’s stock, valued at $225,209.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,974 shares of company stock valued at $298,154. Company insiders own 8.10% of the company’s stock.

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.