ZoomInfo Technologies (NASDAQ:ZI) Releases Earnings Results, Misses Estimates By $0.07 EPS

ZoomInfo Technologies (NASDAQ:ZI) announced its earnings results on Monday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.07), Briefing.com reports. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $307.68 million. ZoomInfo Technologies had a return on equity of 12.00% and a net margin of 6.24%. ZoomInfo Technologies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. ZoomInfo Technologies updated its Q3 guidance to $0.21-0.22 EPS and its FY24 guidance to $0.86-0.88 EPS.

ZoomInfo Technologies Stock Performance

Shares of ZoomInfo Technologies stock traded up $0.69 during midday trading on Wednesday, hitting $8.70. The company had a trading volume of 22,941,381 shares, compared to its average volume of 6,625,705. ZoomInfo Technologies has a 1-year low of $7.65 and a 1-year high of $19.39. The business’s 50 day simple moving average is $11.85 and its two-hundred day simple moving average is $14.31. The stock has a market cap of $3.25 billion, a PE ratio of 42.70, a P/E/G ratio of 2.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.11.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CFO Peter Cameron Hyzer sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $95,850.00. Following the completion of the transaction, the chief financial officer now owns 1,279,023 shares of the company’s stock, valued at approximately $16,345,913.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ZoomInfo Technologies news, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $12.78, for a total value of $95,850.00. Following the sale, the chief financial officer now owns 1,279,023 shares of the company’s stock, valued at approximately $16,345,913.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Ali Dasdan sold 5,862 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $11.90, for a total transaction of $69,757.80. Following the transaction, the chief technology officer now directly owns 87,540 shares of the company’s stock, valued at $1,041,726. The disclosure for this sale can be found here. Insiders have sold 23,974 shares of company stock worth $298,154 in the last ninety days. Insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZI. The Goldman Sachs Group cut ZoomInfo Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $19.50 to $12.00 in a report on Wednesday, May 8th. Wells Fargo & Company cut their price objective on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating on the stock in a report on Tuesday. KeyCorp cut shares of ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Bank of America lowered shares of ZoomInfo Technologies from a “buy” rating to an “underperform” rating and cut their price target for the company from $23.00 to $8.00 in a report on Tuesday. Finally, Piper Sandler decreased their price objective on shares of ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.83.

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.