ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Up After Analyst Upgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s stock price gapped up before the market opened on Wednesday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $9.53, but opened at $11.18. Canaccord Genuity Group currently has a buy rating on the stock. ZoomInfo Technologies shares last traded at $11.19, with a volume of 7,895,253 shares traded.

A number of other analysts also recently weighed in on ZI. KeyCorp downgraded ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Morgan Stanley increased their price target on ZoomInfo Technologies from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday. Mizuho increased their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price target on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of ZoomInfo Technologies in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.88.

Insider Activity at ZoomInfo Technologies

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 4,898 shares of ZoomInfo Technologies stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total transaction of $53,926.98. Following the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Randall Winn sold 290,541 shares of ZoomInfo Technologies stock in a transaction that occurred 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 transaction, the director now directly owns 1,266,807 shares in the company, valued at approximately $14,010,885.42. This represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On ZoomInfo Technologies

Several hedge funds have recently modified their holdings of ZI. Jericho Capital Asset Management L.P. bought a new stake in shares of ZoomInfo Technologies in the 4th quarter worth approximately $116,622,000. Deutsche Bank AG raised its holdings in shares of ZoomInfo Technologies by 21,345.2% in the 4th quarter. Deutsche Bank AG now owns 10,228,951 shares of the company’s stock worth $107,506,000 after purchasing an additional 10,181,253 shares during the period. FMR LLC raised its holdings in shares of ZoomInfo Technologies by 27.7% in the 3rd quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after purchasing an additional 7,177,687 shares during the period. Hood River Capital Management LLC bought a new stake in shares of ZoomInfo Technologies in the 4th quarter worth approximately $48,336,000. Finally, Maverick Capital Ltd. bought a new stake in shares of ZoomInfo Technologies in the 3rd quarter worth approximately $44,248,000. Institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Price Performance

The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.03 billion, a P/E ratio of 391.13, a PEG ratio of 13.05 and a beta of 1.01. The business’s fifty day moving average is $10.25 and its 200 day moving average is $10.33.

ZoomInfo Technologies (NASDAQ:ZI) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The business had revenue of $309.10 million during the quarter, compared to analysts’ expectations of $297.64 million. As a group, sell-side analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 EPS for the current year.

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.