Short Interest in ZoomInfo Technologies Inc. (NASDAQ:ZI) Rises By 33.9%

ZoomInfo Technologies Inc. (NASDAQ:ZI) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 35,940,000 shares, a growth of 33.9% from the September 30th total of 26,840,000 shares. Based on an average trading volume of 7,500,000 shares, the days-to-cover ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ZI shares. Stifel Nicolaus reduced their price target on shares of ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada lowered their price target on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 6th. DA Davidson lowered ZoomInfo Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $9.50 in a report on Tuesday, August 6th. Raymond James cut ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Finally, Piper Sandler lowered their price target on shares of ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies presently has a consensus rating of “Hold” and an average target price of $13.40.

ZoomInfo Technologies Stock Performance

ZoomInfo Technologies stock opened at $10.49 on Friday. ZoomInfo Technologies has a 12-month low of $7.65 and a 12-month high of $19.39. The stock has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $11.75. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 52.45, a P/E/G ratio of 6.42 and a beta of 1.06.

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

Insider Buying and Selling

In other ZoomInfo Technologies news, CEO Henry Schuck acquired 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the transaction, the chief executive officer now owns 11,788,001 shares of the company’s stock, valued at approximately $100,080,128.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On ZoomInfo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Retirement Systems of Alabama boosted its stake in shares of ZoomInfo Technologies by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 371,995 shares of the company’s stock valued at $5,963,000 after purchasing an additional 976 shares during the last quarter. 49 Wealth Management LLC boosted its stake in ZoomInfo Technologies by 11.3% in the first quarter. 49 Wealth Management LLC now owns 13,345 shares of the company’s stock valued at $214,000 after acquiring an additional 1,360 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in ZoomInfo Technologies by 45.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock worth $80,000 after acquiring an additional 1,547 shares during the period. State of Michigan Retirement System raised its position in shares of ZoomInfo Technologies by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 72,700 shares of the company’s stock valued at $1,165,000 after acquiring an additional 1,600 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of ZoomInfo Technologies by 114.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after purchasing an additional 2,134 shares during the period. 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.