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

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.920-0.930 for the period, compared to the consensus EPS estimate of 0.880. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. ZoomInfo Technologies also updated its Q4 guidance to $0.22-0.23 EPS.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ:ZI traded up $0.43 during midday trading on Tuesday, reaching $13.08. 20,450,330 shares of the company traded hands, compared to its average volume of 6,779,872. ZoomInfo Technologies has a 12 month low of $7.65 and a 12 month high of $19.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 316.25, a price-to-earnings-growth ratio of 7.34 and a beta of 1.03. The firm’s fifty day moving average price is $10.42 and its two-hundred day moving average price is $11.39.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ZI shares. Daiwa Capital Markets lowered ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $9.00 in a research report on Tuesday, August 13th. Royal Bank of Canada dropped their target price on shares of ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating on the stock in a report on Tuesday, August 6th. Citigroup reduced their price objective on ZoomInfo Technologies from $11.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. KeyCorp cut ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 6th. Finally, Piper Sandler reduced their price target on shares of ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.61.

ZoomInfo Technologies Company Profile

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.