ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Up on Analyst Upgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares gapped up before the market opened on Wednesday after Scotiabank raised their price target on the stock from $10.30 to $11.00. The stock had previously closed at $9.53, but opened at $11.18. Scotiabank currently has a sector perform rating on the stock. ZoomInfo Technologies shares last traded at $11.19, with a volume of 7,895,253 shares trading hands.

Several other analysts have also recently weighed in on ZI. Wells Fargo & Company lifted their price objective on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup lifted their price target on ZoomInfo Technologies from $8.50 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, February 11th. Mizuho increased their price objective on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. KeyCorp lowered ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus upped their target price on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.92.

Insider Activity at ZoomInfo Technologies

In related news, CTO Ali Dasdan sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total value of $53,926.98. Following the sale, the chief technology officer now owns 118,659 shares in the company, valued at approximately $1,306,435.59. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Randall Winn sold 290,541 shares of ZoomInfo Technologies stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at approximately $14,010,885.42. This trade represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.

Institutional Trading of ZoomInfo Technologies

Several large investors have recently modified their holdings of the company. Jericho Capital Asset Management L.P. bought a new position in ZoomInfo Technologies in the fourth quarter valued at about $116,622,000. Deutsche Bank AG increased its position in shares of ZoomInfo Technologies by 21,345.2% during the 4th quarter. Deutsche Bank AG now owns 10,228,951 shares of the company’s stock valued at $107,506,000 after purchasing an additional 10,181,253 shares during the last quarter. FMR LLC lifted its stake in shares of ZoomInfo Technologies by 27.7% in the 3rd quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after purchasing an additional 7,177,687 shares during the period. Hood River Capital Management LLC purchased a new position in shares of ZoomInfo Technologies in the fourth quarter worth approximately $48,336,000. Finally, Maverick Capital Ltd. bought a new stake in ZoomInfo Technologies during the third quarter valued at approximately $44,248,000. Institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Price Performance

The company has a market capitalization of $4.12 billion, a P/E ratio of 400.47, a price-to-earnings-growth ratio of 13.05 and a beta of 1.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s 50-day moving average is $10.28 and its 200-day moving average is $10.34.

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). The business had revenue of $309.10 million for the quarter, compared to the consensus estimate of $297.64 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. Analysts predict that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

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.