ZoomInfo Technologies (NASDAQ:ZI) Given New $19.00 Price Target at Wells Fargo & Company

ZoomInfo Technologies (NASDAQ:ZI) had its price objective reduced by Wells Fargo & Company from $21.00 to $19.00 in a research note released on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a buy rating and issued a $25.00 price objective on shares of ZoomInfo Technologies in a report on Wednesday, May 8th. KeyCorp dropped their price objective on ZoomInfo Technologies from $20.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, May 8th. UBS Group dropped their price objective on ZoomInfo Technologies from $19.00 to $16.00 and set a neutral rating for the company in a report on Wednesday, May 8th. Citigroup dropped their price objective on ZoomInfo Technologies from $13.00 to $11.00 and set a sell rating for the company in a report on Thursday, May 9th. Finally, Stifel Nicolaus decreased their price target on ZoomInfo Technologies from $24.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $18.90.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI opened at $12.29 on Friday. The stock has a market cap of $4.60 billion, a P/E ratio of 61.45, a PEG ratio of 2.83 and a beta of 1.05. The stock has a 50 day simple moving average of $13.71 and a 200 day simple moving average of $15.54. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.61. ZoomInfo Technologies has a 1-year low of $11.67 and a 1-year high of $30.16.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The firm had revenue of $310.10 million during the quarter, compared to analysts’ expectations of $308.84 million. ZoomInfo Technologies had a return on equity of 12.00% and a net margin of 6.24%. Research analysts anticipate that ZoomInfo Technologies will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 5,862 shares of ZoomInfo Technologies stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $11.90, for a total transaction of $69,757.80. Following the transaction, the chief technology officer now directly owns 87,540 shares of the company’s stock, valued at approximately $1,041,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Patrick Mader sold 3,112 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $39,771.36. Following the transaction, the director now directly owns 17,622 shares of the company’s stock, valued at approximately $225,209.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Ali Dasdan sold 5,862 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total value of $69,757.80. Following the completion of the transaction, the chief technology officer now directly owns 87,540 shares in the company, valued at $1,041,726. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,474 shares of company stock valued at $205,379. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of ZoomInfo Technologies in the 1st quarter valued at about $85,000. Boston Partners acquired a new position in ZoomInfo Technologies during the 1st quarter worth approximately $613,000. Swedbank AB acquired a new position in ZoomInfo Technologies during the 1st quarter worth approximately $14,026,000. Washington Harbour Partners LP raised its stake in ZoomInfo Technologies by 18.6% during the 1st quarter. Washington Harbour Partners LP now owns 255,400 shares of the company’s stock worth $4,094,000 after buying an additional 40,000 shares during the period. Finally, Comerica Bank raised its stake in ZoomInfo Technologies by 32.3% during the 1st quarter. Comerica Bank now owns 181,559 shares of the company’s stock worth $2,910,000 after buying an additional 44,276 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

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.