ZoomInfo Technologies (NASDAQ:ZI) Updates Q4 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its fourth quarter earnings guidance on Tuesday morning. 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 Up 0.8 %

ZI traded up $0.08 during trading hours on Thursday, reaching $10.61. 1,656,813 shares of the stock traded hands, compared to its average volume of 6,902,698. The firm’s fifty day simple moving average is $10.50 and its two-hundred day simple moving average is $11.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 351.12, a PEG ratio of 8.00 and a beta of 1.03. ZoomInfo Technologies has a fifty-two week low of $7.65 and a fifty-two week high of $19.39.

Analyst Upgrades and Downgrades

ZI has been the subject of a number of recent analyst reports. KeyCorp lowered ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 6th. DA Davidson lowered ZoomInfo Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $9.50 in a research report on Tuesday, August 6th. Citigroup reduced their price objective on ZoomInfo Technologies from $11.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Bank of America lowered shares of ZoomInfo Technologies from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $23.00 to $8.00 in a research note on Tuesday, August 6th. Finally, Truist Financial cut their price target on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.76.

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.