Scotiabank Forecasts Strong Price Appreciation for ZoomInfo Technologies (NASDAQ:ZI) Stock

ZoomInfo Technologies (NASDAQ:ZI) had its price target lifted by research analysts at Scotiabank from $10.30 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential downside of 5.66% from the company’s previous close.

A number of other brokerages have also issued reports on ZI. Piper Sandler raised ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $11.00 in a report on Wednesday. KeyCorp downgraded ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Wells Fargo & Company upped their target price on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.92.

ZoomInfo Technologies Stock Down 2.9 %

NASDAQ:ZI opened at $11.66 on Thursday. The firm has a market capitalization of $4.00 billion, a PE ratio of 388.80, a price-to-earnings-growth ratio of 13.05 and a beta of 1.01. The stock has a 50 day moving average of $10.30 and a 200-day moving average of $10.36. ZoomInfo Technologies has a 52 week low of $7.65 and a 52 week high of $17.13. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73.

ZoomInfo Technologies (NASDAQ:ZI) last issued its quarterly earnings data 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). ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. The business had revenue of $309.10 million during the quarter, compared to the consensus estimate of $297.64 million. Analysts predict that ZoomInfo Technologies will post 0.59 EPS for the current year.

Insider Activity

In other news, Director David Randall Winn sold 290,541 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total value of $3,213,383.46. Following the transaction, the director now directly owns 1,266,807 shares of the company’s stock, valued at approximately $14,010,885.42. This represents a 18.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Ali Dasdan sold 4,898 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 directly owns 118,659 shares in the company, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of 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 acquiring an additional 74,455 shares during the last quarter. Alberta Investment Management Corp acquired a new position in ZoomInfo Technologies during the fourth quarter worth $2,320,000. Versor Investments LP acquired a new position in ZoomInfo Technologies during the third quarter worth $516,000. State Street Corp increased its position in ZoomInfo Technologies by 2.0% during 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 last quarter. Finally, XTX Topco Ltd acquired a new position in ZoomInfo Technologies during the third quarter worth $895,000. 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.