ZoomInfo Technologies (NASDAQ:ZI) Rating Reiterated by Morgan Stanley – MarketBeat

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ZoomInfo Technologies (NASDAQ:ZI – Get Rating)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a research note issued to investors on Wednesday, Stock Target Advisor reports. They presently have a $66.00 target price on the stock. Morgan Stanley’s target price would indicate a potential upside of 46.60% from the company’s current price.
Other research analysts also recently issued research reports about the company. Credit Suisse Group lowered their target price on ZoomInfo Technologies from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Daiwa Capital Markets began coverage on shares of ZoomInfo Technologies in a research report on Wednesday, September 28th. They set a “buy” rating and a $66.00 price objective on the stock. Barclays reduced their target price on shares of ZoomInfo Technologies from $64.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Piper Sandler increased their price target on shares of ZoomInfo Technologies from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 2nd. Finally, The Goldman Sachs Group reduced their price objective on shares of ZoomInfo Technologies from $71.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $68.89.

ZoomInfo Technologies Trading Down 1.9 %

Shares of ZoomInfo Technologies stock traded down $0.86 during trading on Wednesday, hitting $45.02. The stock had a trading volume of 20,482 shares, compared to its average volume of 3,679,798. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $18.16 billion, a PE ratio of 167.52, a P/E/G ratio of 2.78 and a beta of 1.32. ZoomInfo Technologies has a 1 year low of $30.31 and a 1 year high of $79.17. The stock has a 50 day simple moving average of $44.47 and a 200 day simple moving average of $44.16.
ZoomInfo Technologies (NASDAQ:ZI – Get Rating) last issued its earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). The business had revenue of $267.10 million during the quarter, compared to analyst estimates of $254.45 million. ZoomInfo Technologies had a return on equity of 7.16% and a net margin of 13.61%. The business’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period last year, the business earned $0.11 EPS. On average, research analysts expect that ZoomInfo Technologies will post 0.45 EPS for the current fiscal year.

Insider Activity at ZoomInfo Technologies

In other news, COO Joseph Christopher Hays sold 17,797 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $41.97, for a total value of $746,940.09. Following the completion of the transaction, the chief operating officer now directly owns 577,329 shares of the company’s stock, valued at approximately $24,230,498.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Joseph Christopher Hays sold 17,797 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $41.97, for a total value of $746,940.09. Following the sale, the chief operating officer now owns 577,329 shares in the company, valued at approximately $24,230,498.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Carlyle Group Inc. sold 181,938 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $46.26, for a total transaction of $8,416,451.88. Following the sale, the insider now owns 40,897,624 shares of the company’s stock, valued at approximately $1,891,924,086.24. The disclosure for this sale can be found here. Insiders have sold a total of 609,460 shares of company stock valued at $29,118,135 over the last quarter. 9.70% of the stock is owned by company insiders.

Institutional Trading of ZoomInfo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in ZoomInfo Technologies by 71.7% in the 2nd quarter. State Street Corp now owns 5,874,049 shares of the company’s stock worth $195,253,000 after purchasing an additional 2,453,367 shares during the last quarter. Dragoneer Investment Group LLC raised its position in shares of ZoomInfo Technologies by 134.2% during the first quarter. Dragoneer Investment Group LLC now owns 3,943,215 shares of the company’s stock worth $235,568,000 after acquiring an additional 2,259,831 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of ZoomInfo Technologies by 80.5% during the fourth quarter. 1832 Asset Management L.P. now owns 4,394,600 shares of the company’s stock worth $285,348,000 after acquiring an additional 1,960,382 shares during the last quarter. Capital World Investors lifted its stake in shares of ZoomInfo Technologies by 7.1% during the first quarter. Capital World Investors now owns 28,215,665 shares of the company’s stock valued at $1,685,604,000 after acquiring an additional 1,872,595 shares during the period. Finally, Jennison Associates LLC boosted its holdings in ZoomInfo Technologies by 33.5% in the first quarter. Jennison Associates LLC now owns 7,462,240 shares of the company’s stock valued at $445,794,000 after acquiring an additional 1,871,380 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors and hedge funds.

About ZoomInfo Technologies

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ZoomInfo Technologies Inc, through 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.

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