ZoomInfo Technologies (NASDAQ:ZI) Stock Price Up 7.2% Following Analyst Upgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares rose 7.2% during mid-day trading on Thursday after Scotiabank raised their price target on the stock from $10.30 to $11.00. Scotiabank currently has a sector perform rating on the stock. ZoomInfo Technologies traded as high as $12.55 and last traded at $12.58. Approximately 5,627,040 shares were traded during trading, a decline of 21% from the average daily volume of 7,143,709 shares. The stock had previously closed at $11.73.

Several other analysts have also recently commented on the stock. Piper Sandler raised shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $10.00 to $11.00 in a report on Wednesday. Barclays lifted their price objective on ZoomInfo Technologies from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup increased their target price on ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, February 11th. Stifel Nicolaus upped their price objective on ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on ZoomInfo Technologies from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.92.

Insiders Place Their Bets

In other news, CTO Ali Dasdan sold 4,898 shares of the business’s stock in a transaction 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 completion of the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at approximately $1,306,435.59. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Randall Winn sold 290,541 shares of ZoomInfo Technologies stock in a transaction dated Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $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 Trading of ZoomInfo Technologies

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in ZoomInfo Technologies by 83.4% in the third quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock worth $1,689,000 after buying an additional 74,455 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in ZoomInfo Technologies during the 4th quarter worth about $2,320,000. Versor Investments LP purchased a new stake in ZoomInfo Technologies during the third quarter valued at about $516,000. State Street Corp boosted its holdings in shares of ZoomInfo Technologies by 2.0% in the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock worth $89,025,000 after buying an additional 165,440 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of ZoomInfo Technologies in the third quarter worth approximately $895,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

ZoomInfo Technologies Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 388.20, a price-to-earnings-growth ratio of 13.05 and a beta of 1.01. The stock’s fifty day moving average price is $10.28 and its 200-day moving average price is $10.34.

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 analysts’ consensus estimates of $0.23 by ($0.07). The company had revenue of $309.10 million during the quarter, compared to analysts’ expectations of $297.64 million. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. Equities research analysts predict that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

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.