Morgan Stanley Issues Positive Forecast for ZoomInfo Technologies (NASDAQ:ZI) Stock Price

ZoomInfo Technologies (NASDAQ:ZI) had its price target hoisted by Morgan Stanley from $11.00 to $13.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, February 11th. Barclays lifted their price objective on shares of ZoomInfo Technologies from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, KeyCorp cut shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.88.

ZoomInfo Technologies Price Performance

NASDAQ ZI opened at $11.73 on Wednesday. The stock has a market capitalization of $4.03 billion, a P/E ratio of 391.13, a P/E/G ratio of 13.05 and a beta of 1.01. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $17.45. The business’s fifty day moving average is $10.25 and its two-hundred day moving average is $10.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $309.10 million during the quarter, compared to the consensus estimate of $297.64 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. On average, research analysts forecast that ZoomInfo Technologies will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 4,898 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total value of $53,926.98. Following the completion of the sale, the chief technology officer now directly owns 118,659 shares in the company, valued at approximately $1,306,435.59. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Randall Winn sold 290,541 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the sale, the director now owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. This represents a 18.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in ZoomInfo Technologies by 29.1% during the 4th quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock worth $54,000 after acquiring an additional 1,160 shares during the last quarter. Xponance Inc. lifted its position in ZoomInfo Technologies by 3.5% during the 4th quarter. Xponance Inc. now owns 36,173 shares of the company’s stock worth $380,000 after acquiring an additional 1,226 shares during the last quarter. Fifth Third Bancorp lifted its position in ZoomInfo Technologies by 47.8% during the 4th quarter. Fifth Third Bancorp now owns 3,836 shares of the company’s stock worth $40,000 after acquiring an additional 1,241 shares during the last quarter. State of Alaska Department of Revenue lifted its position in ZoomInfo Technologies by 7.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock worth $353,000 after acquiring an additional 2,275 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in ZoomInfo Technologies by 2.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 95,894 shares of the company’s stock worth $1,008,000 after acquiring an additional 2,294 shares during the last quarter. Institutional investors and hedge funds 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.