ZoomInfo Technologies (NASDAQ:ZI) Trading 4% Higher – What’s Next?

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares rose 4% during trading on Tuesday . The stock traded as high as $13.17 and last traded at $13.16. Approximately 6,619,847 shares traded hands during trading, a decline of 2% from the average daily volume of 6,723,981 shares. The stock had previously closed at $12.65.

Analyst Upgrades and Downgrades

ZI has been the topic of several research reports. Needham & Company LLC reduced their price objective on ZoomInfo Technologies from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. DA Davidson downgraded ZoomInfo Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $9.50 in a report on Tuesday, August 6th. Barclays cut their price target on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Citigroup dropped their target price on ZoomInfo Technologies from $11.00 to $7.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Daiwa America downgraded ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.61.

ZoomInfo Technologies Trading Up 3.4 %

The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 316.25, a PEG ratio of 7.34 and a beta of 1.03. The company has a fifty day moving average price of $10.42 and a 200-day moving average price of $11.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66.

Hedge Funds Weigh In On ZoomInfo Technologies

Several institutional investors and hedge funds have recently modified their holdings of ZI. Pacer Advisors Inc. increased its stake in ZoomInfo Technologies by 8,471.7% during the 2nd quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock worth $85,421,000 after buying an additional 6,611,160 shares in the last quarter. Marshall Wace LLP purchased a new stake in ZoomInfo Technologies during the 2nd quarter worth approximately $73,435,000. Delta Global Management LP grew its position in shares of ZoomInfo Technologies by 280.1% in the first quarter. Delta Global Management LP now owns 2,593,618 shares of the company’s stock valued at $41,576,000 after purchasing an additional 1,911,221 shares in the last quarter. Kinetic Partners Management LP grew its position in shares of ZoomInfo Technologies by 95.4% in the first quarter. Kinetic Partners Management LP now owns 2,715,500 shares of the company’s stock valued at $43,529,000 after purchasing an additional 1,325,500 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in shares of ZoomInfo Technologies by 97.6% in the third quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock valued at $26,475,000 after purchasing an additional 1,267,171 shares in the last quarter. Hedge funds and other institutional investors own 95.47% 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.