ZoomInfo Technologies (NASDAQ:ZI) Releases Q4 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.22-0.23 for the period, compared to the consensus earnings per share estimate of $0.23. The company issued revenue guidance of $296-299 million, compared to the consensus revenue estimate of $296.85 million. ZoomInfo Technologies also updated its FY 2024 guidance to 0.920-0.930 EPS.

ZoomInfo Technologies Stock Down 3.6 %

NASDAQ ZI traded down $0.38 on Friday, hitting $10.20. The stock had a trading volume of 864,338 shares, compared to its average volume of 6,917,930. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.97. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 340.67, a price-to-earnings-growth ratio of 6.44 and a beta of 1.03. ZoomInfo Technologies has a 52-week low of $7.65 and a 52-week high of $19.39. The business’s fifty day moving average price is $10.51 and its 200 day moving average price is $11.36.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZI. Barclays decreased their price objective on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada lowered their target price on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday. Daiwa Capital Markets downgraded shares of ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $9.00 in a research note on Tuesday, August 13th. Finally, Truist Financial reduced their price objective on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.84.

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.