ZoomInfo Technologies (NASDAQ:ZI) Shares Up 4.8% – Here’s Why

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares rose 4.8% during trading on Wednesday . The company traded as high as $9.93 and last traded at $9.89. Approximately 3,450,665 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 6,492,467 shares. The stock had previously closed at $9.44.

Analysts Set New Price Targets

Several brokerages have recently commented on ZI. Bank of America downgraded shares of ZoomInfo Technologies from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $23.00 to $8.00 in a research report on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. DA Davidson cut ZoomInfo Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $9.50 in a research report on Tuesday, August 6th. Raymond James cut ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 6th. Finally, Truist Financial cut 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. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.40.

ZoomInfo Technologies Trading Up 5.1 %

The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 47.20, a P/E/G ratio of 6.06 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $9.83 and its 200-day moving average price is $12.22.

ZoomInfo Technologies (NASDAQ:ZI) last released its earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.07). The firm had revenue of $291.50 million during the quarter, compared to analyst estimates of $307.68 million. ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. ZoomInfo Technologies’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. On average, research analysts expect that ZoomInfo Technologies Inc. will post 0.55 EPS for the current fiscal year.

Insider Transactions at ZoomInfo Technologies

In related news, CEO Henry Schuck acquired 1,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $8.49 per share, for a total transaction of $12,735,000.00. Following the acquisition, the chief executive officer now owns 11,788,001 shares in the company, valued at $100,080,128.49. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp lifted its position in ZoomInfo Technologies by 955.2% during the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after buying an additional 2,388 shares in the last quarter. Covestor Ltd grew its position in ZoomInfo Technologies by 598.5% in the 1st quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after buying an additional 2,861 shares in the last quarter. GAMMA Investing LLC grew its holdings in ZoomInfo Technologies by 114.9% during the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock worth $41,000 after acquiring an additional 2,134 shares during the period. Advisors Asset Management Inc. lifted its stake in ZoomInfo Technologies by 45.3% during the first quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock valued at $80,000 after purchasing an additional 1,547 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in ZoomInfo Technologies during the first quarter valued at about $85,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.