ZoomInfo Technologies (NASDAQ:ZI) Price Target Cut to $21.00 by Analysts at Wells Fargo & Company

ZoomInfo Technologies (NASDAQ:ZI) had its target price decreased by Wells Fargo & Company from $28.00 to $21.00 in a report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on ZI. KeyCorp initiated coverage on ZoomInfo Technologies in a research report on Thursday, March 21st. They set an overweight rating and a $20.00 target price on the stock. Citigroup cut ZoomInfo Technologies from a neutral rating to a sell rating and cut their price objective for the company from $20.00 to $13.00 in a research report on Thursday, February 8th. Barclays decreased their target price on ZoomInfo Technologies from $20.00 to $19.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Mizuho lowered shares of ZoomInfo Technologies from a buy rating to a neutral rating and cut their price target for the stock from $23.00 to $14.00 in a report on Wednesday. Finally, The Goldman Sachs Group downgraded 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, ZoomInfo Technologies currently has a consensus rating of Hold and an average price target of $19.10.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI opened at $12.14 on Wednesday. The company has a 50 day simple moving average of $16.01 and a two-hundred day simple moving average of $15.89. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 44.96, a PEG 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 has a 12 month low of $11.67 and a 12 month high of $30.16.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The company had revenue of $316.40 million for the quarter, compared to the consensus estimate of $310.62 million. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. As a group, analysts predict that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Institutional Trading of ZoomInfo Technologies

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of ZoomInfo Technologies by 180.0% during the 3rd quarter. FMR LLC now owns 13,859,918 shares of the company’s stock worth $227,303,000 after acquiring an additional 8,909,420 shares in the last quarter. Coatue Management LLC acquired a new stake in shares of ZoomInfo Technologies during the 4th quarter worth about $120,619,000. Franklin Resources Inc. lifted its stake in ZoomInfo Technologies by 52,230.4% during the fourth quarter. Franklin Resources Inc. now owns 6,055,152 shares of the company’s stock worth $111,960,000 after purchasing an additional 6,043,581 shares during the last quarter. Cadian Capital Management LP boosted its holdings in ZoomInfo Technologies by 110.7% in the third quarter. Cadian Capital Management LP now owns 9,765,615 shares of the company’s stock valued at $160,156,000 after purchasing an additional 5,131,000 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of ZoomInfo Technologies in the 4th quarter valued at $55,448,000. Institutional investors and hedge funds 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.