Piper Sandler Downgrades ZoomInfo Technologies (NASDAQ:ZI) to Neutral

ZoomInfo Technologies (NASDAQ:ZI) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Wednesday, Marketbeat Ratings reports. They presently have a $15.00 price target on the stock, down from their previous price target of $24.00. Piper Sandler’s price target points to a potential downside of 6.37% from the company’s previous close.

A number of other equities research analysts have also weighed in on ZI. Stifel Nicolaus lifted their price objective on shares of ZoomInfo Technologies from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. KeyCorp began coverage on shares of ZoomInfo Technologies in a report on Thursday, March 21st. They set an “overweight” rating and a $20.00 price objective for the company. The Goldman Sachs Group lowered shares of ZoomInfo Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $19.50 to $12.00 in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of ZoomInfo Technologies in a report on Tuesday, February 20th. Finally, Wells Fargo & Company boosted their price target on shares of ZoomInfo Technologies from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, ZoomInfo Technologies currently has an average rating of “Hold” and a consensus target price of $20.15.

ZoomInfo Technologies Price Performance

ZI stock opened at $16.02 on Wednesday. ZoomInfo Technologies has a 12 month low of $12.36 and a 12 month high of $30.16. The company has a 50-day moving average price of $16.04 and a 200 day moving average price of $15.90. The stock has a market cap of $6.08 billion, a PE ratio of 59.34, a P/E/G ratio of 4.28 and a beta of 1.13. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. ZoomInfo Technologies had a net margin of 8.66% and a return on equity of 11.25%. The company had revenue of $316.40 million during the quarter, compared to analyst estimates of $310.62 million. During the same quarter last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. American Trust increased its position in shares of ZoomInfo Technologies by 5.9% in the 4th quarter. American Trust now owns 11,326 shares of the company’s stock valued at $209,000 after acquiring an additional 628 shares during the period. Fifth Third Bancorp increased its position in shares of ZoomInfo Technologies by 64.2% in the 4th quarter. Fifth Third Bancorp now owns 1,653 shares of the company’s stock valued at $31,000 after acquiring an additional 646 shares during the period. Retirement Systems of Alabama increased its position 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 acquiring an additional 976 shares during the period. Stifel Financial Corp increased its position in shares of ZoomInfo Technologies by 0.5% in the 3rd quarter. Stifel Financial Corp now owns 225,036 shares of the company’s stock valued at $3,691,000 after acquiring an additional 1,143 shares during the period. Finally, 49 Wealth Management LLC increased its position in shares of ZoomInfo Technologies by 11.3% in the 1st 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 period. Institutional investors 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.