ZoomInfo Technologies (NASDAQ:ZI) Upgraded by Piper Sandler to Neutral Rating

ZoomInfo Technologies (NASDAQ:ZI) was upgraded by analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $11.00 price target on the stock, up from their prior price target of $10.00. Piper Sandler’s target price suggests a potential upside of 15.42% from the stock’s current price.

A number of other equities research analysts also recently commented on ZI. Mizuho lifted their target price on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Citigroup increased their price target on ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, February 11th. Wells Fargo & Company reissued an “equal weight” rating and set a $11.00 target price (down previously from $14.00) on shares of ZoomInfo Technologies in a research note on Tuesday, January 7th. Barclays lowered their target price on shares of ZoomInfo Technologies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.20.

ZoomInfo Technologies Stock Performance

Shares of ZoomInfo Technologies stock opened at $9.53 on Wednesday. The company has a 50 day moving average price of $10.23 and a 200 day moving average price of $10.32. The firm has a market capitalization of $3.27 billion, a P/E ratio of 317.77, a PEG ratio of 13.05 and a beta of 1.01. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies has a 52 week low of $7.65 and a 52 week high of $17.45.

ZoomInfo Technologies (NASDAQ:ZI) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. Sell-side analysts expect that ZoomInfo Technologies will post 0.59 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Randall Winn sold 290,541 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total value of $3,213,383.46. Following the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at approximately $14,010,885.42. The trade was a 18.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Ali Dasdan sold 4,898 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the sale, the chief technology officer now directly owns 118,659 shares in the company, valued at $1,306,435.59. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On ZoomInfo Technologies

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of ZoomInfo Technologies by 27.7% in the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after acquiring an additional 7,177,687 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new position in ZoomInfo Technologies in the fourth quarter valued at $116,622,000. Deutsche Bank AG boosted its holdings in ZoomInfo Technologies by 21,345.2% in the fourth quarter. Deutsche Bank AG now owns 10,228,951 shares of the company’s stock valued at $107,506,000 after purchasing an additional 10,181,253 shares during the period. Pacer Advisors Inc. grew its stake in ZoomInfo Technologies by 38.7% during the 3rd quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock worth $95,716,000 after purchasing an additional 2,585,631 shares in the last quarter. Finally, State Street Corp increased its holdings in ZoomInfo Technologies by 2.0% during the 3rd quarter. State Street Corp now owns 8,626,463 shares of the company’s stock worth $89,025,000 after purchasing an additional 165,440 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.