Needham & Company LLC Reiterates “Buy” Rating for ZoomInfo Technologies (NASDAQ:ZI)

ZoomInfo Technologies (NASDAQ:ZI)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 57.40% from the company’s current price.

ZI has been the topic of a number of other research reports. Piper Sandler raised shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $11.00 in a report on Wednesday. KeyCorp lowered ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Wells Fargo & Company reissued an “equal weight” rating and issued a $11.00 price objective (down previously from $14.00) on shares of ZoomInfo Technologies in a report on Tuesday, January 7th. Citigroup boosted their price target on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, February 11th. Finally, Scotiabank assumed coverage on ZoomInfo Technologies in a research report on Monday, November 18th. They set a “sector perform” rating and a $10.30 target price on the stock. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies has a consensus rating of “Hold” and an average price target of $12.31.

ZoomInfo Technologies Trading Down 1.1 %

Shares of ZoomInfo Technologies stock opened at $9.53 on Wednesday. The firm has a market cap of $3.27 billion, a PE ratio of 317.77, a P/E/G ratio of 13.05 and a beta of 1.01. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $17.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a fifty day moving average price of $10.23 and a 200-day moving average price of $10.32.

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

Insider Transactions at ZoomInfo Technologies

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

Institutional Trading of ZoomInfo Technologies

Several institutional investors have recently added to or reduced their stakes in ZI. Victory Capital Management Inc. boosted its holdings in ZoomInfo Technologies by 83.4% during the 3rd quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock valued at $1,689,000 after acquiring an additional 74,455 shares during the period. Alberta Investment Management Corp bought a new stake in ZoomInfo Technologies in the fourth quarter valued at approximately $2,320,000. Versor Investments LP purchased a new stake in shares of ZoomInfo Technologies during the third quarter valued at approximately $516,000. State Street Corp grew its holdings in shares of ZoomInfo Technologies by 2.0% in the third 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 last quarter. Finally, XTX Topco Ltd purchased a new position in shares of ZoomInfo Technologies in the third quarter worth $895,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.