ZoomInfo Technologies (NASDAQ:ZI) Updates FY 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.920-0.930 for the period, compared to the consensus estimate of 0.880. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. ZoomInfo Technologies also updated its Q4 guidance to $0.22-0.23 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZI shares. KeyCorp cut shares of ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 6th. Daiwa America downgraded shares of ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Daiwa Capital Markets lowered shares of ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $9.00 in a research report on Tuesday, August 13th. Barclays lowered their price target on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Finally, Piper Sandler lowered their price objective on ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ZoomInfo Technologies presently has a consensus rating of “Hold” and an average target price of $12.61.

ZoomInfo Technologies Price Performance

ZI stock traded up $0.43 on Tuesday, hitting $13.08. 20,450,330 shares of the company’s stock traded hands, compared to its average volume of 6,779,872. ZoomInfo Technologies has a 1-year low of $7.65 and a 1-year high of $19.39. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 316.25, a P/E/G ratio of 7.34 and a beta of 1.03. The stock has a fifty day moving average of $10.42 and a 200-day moving average of $11.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66.

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.