ZoomInfo Technologies (NASDAQ:ZI) Shares Up 4% – Here’s Why

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s stock price shot up 4% on Tuesday . The stock traded as high as $13.17 and last traded at $13.16. 6,619,847 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 6,723,981 shares. The stock had previously closed at $12.65.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ZI shares. Barclays dropped their price objective on shares of ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Bank of America lowered shares of ZoomInfo Technologies from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $23.00 to $8.00 in a research note on Tuesday, August 6th. Stifel Nicolaus lowered their price objective on shares of ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company cut their target price on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Piper Sandler raised their target price on ZoomInfo Technologies from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, ZoomInfo Technologies has an average rating of “Hold” and a consensus target price of $12.84.

ZoomInfo Technologies Stock Up 0.5 %

The company has a market cap of $3.86 billion, a price-to-earnings ratio of 355.12, a P/E/G ratio of 8.00 and a beta of 1.03. The firm’s 50 day simple moving average is $10.50 and its 200-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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FMR LLC boosted 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 valued at $341,111,000 after buying an additional 7,177,687 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of ZoomInfo Technologies by 38.7% during the third quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock valued at $95,716,000 after acquiring an additional 2,585,631 shares during the last quarter. Marshall Wace LLP purchased a new stake in ZoomInfo Technologies during the 2nd quarter worth about $73,435,000. Bank of New York Mellon Corp raised its stake in ZoomInfo Technologies by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,289,360 shares of the company’s stock valued at $42,005,000 after purchasing an additional 223,669 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of ZoomInfo Technologies by 20.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,232,733 shares of the company’s stock worth $41,279,000 after purchasing an additional 548,094 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.