ZoomInfo Technologies (NASDAQ:ZI) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ZoomInfo Technologies (NASDAQ:ZI) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $15.00 price target on the stock.

Several other equities analysts also recently issued reports on the company. Raymond James downgraded ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Citigroup decreased their price target on ZoomInfo Technologies from $11.00 to $7.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus lowered their price objective on shares of ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company cut their price objective on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, DA Davidson lowered ZoomInfo Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $9.50 in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ZoomInfo Technologies currently has a consensus rating of “Hold” and an average price target of $12.76.

ZoomInfo Technologies Stock Performance

Shares of ZI opened at $10.53 on Wednesday. The firm has a fifty day moving average of $10.49 and a 200-day moving average of $11.37. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 351.12, a price-to-earnings-growth ratio of 8.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $19.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZI. Janney Montgomery Scott LLC boosted its position in ZoomInfo Technologies by 31.6% during the first quarter. Janney Montgomery Scott LLC now owns 32,427 shares of the company’s stock valued at $520,000 after purchasing an additional 7,779 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of ZoomInfo Technologies during the 1st quarter valued at about $2,213,000. Covestor Ltd increased its holdings in ZoomInfo Technologies by 598.5% in the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock worth $54,000 after buying an additional 2,861 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in ZoomInfo Technologies by 14.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 515,200 shares of the company’s stock valued at $8,260,000 after acquiring an additional 66,025 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in ZoomInfo Technologies during the first quarter valued at approximately $201,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.