Scotiabank Initiates Coverage on ZoomInfo Technologies (NASDAQ:ZI)

Analysts at Scotiabank initiated coverage on shares of ZoomInfo Technologies (NASDAQ:ZI) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set a “sector perform” rating and a $10.30 price target on the stock. Scotiabank’s price target suggests a potential upside of 4.04% from the company’s previous close.

A number of other brokerages have also recently weighed in on ZI. Truist Financial dropped their price objective on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Daiwa Capital Markets cut shares of ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $9.00 in a report on Tuesday, August 13th. Royal Bank of Canada dropped their price objective on shares of ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price objective on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Piper Sandler boosted their price target on shares of ZoomInfo Technologies from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.72.

ZoomInfo Technologies Price Performance

Shares of ZI opened at $9.90 on Monday. ZoomInfo Technologies has a 1-year low of $7.65 and a 1-year high of $19.39. The stock has a market cap of $3.62 billion, a PE ratio of 330.00, a P/E/G ratio of 6.20 and a beta of 1.03. The firm has a 50-day simple moving average of $10.53 and a two-hundred day simple moving average of $11.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Buying and Selling at ZoomInfo Technologies

In other news, CEO Henry Schuck acquired 492,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $10.25 per share, with a total value of $5,048,125.00. Following the purchase, the chief executive officer now owns 12,280,501 shares of the company’s stock, valued at $125,875,135.25. This represents a 4.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ZoomInfo Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its stake in ZoomInfo Technologies by 27.7% in the 3rd quarter. FMR LLC now owns 33,053,422 shares of the company’s stock valued at $341,111,000 after acquiring an additional 7,177,687 shares during the last quarter. Pacer Advisors Inc. grew its stake in ZoomInfo Technologies by 8,471.7% in the 2nd quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock valued at $85,421,000 after acquiring an additional 6,611,160 shares during the last quarter. Marshall Wace LLP acquired a new stake in ZoomInfo Technologies in the 2nd quarter valued at about $73,435,000. Maverick Capital Ltd. acquired a new stake in ZoomInfo Technologies in the 3rd quarter valued at about $44,248,000. Finally, Delta Global Management LP grew its stake in ZoomInfo Technologies by 280.1% in the 1st quarter. Delta Global Management LP now owns 2,593,618 shares of the company’s stock valued at $41,576,000 after acquiring an additional 1,911,221 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

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.