ZoomInfo Technologies (NASDAQ:ZI) Issues Q3 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.210-0.220 for the period, compared to the consensus EPS estimate of 0.250. The company issued revenue guidance of $298.0 million-$301.0 million, compared to the consensus revenue estimate of $317.2 million. ZoomInfo Technologies also updated its FY 2024 guidance to 0.860-0.880 EPS.

Analyst Ratings Changes

Several research firms recently commented on ZI. Barclays cut their price target on shares of ZoomInfo Technologies from $15.00 to $11.00 and set an equal weight rating on the stock in a report on Tuesday. Needham & Company LLC dropped their price objective on shares of ZoomInfo Technologies from $25.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday. The Goldman Sachs Group lowered shares of ZoomInfo Technologies from a neutral rating to a sell rating and dropped their price objective for the company from $19.50 to $12.00 in a research note on Wednesday, May 8th. Truist Financial dropped their price objective on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a hold rating on the stock in a research note on Tuesday. Finally, Mizuho dropped their price objective on shares of ZoomInfo Technologies from $14.00 to $9.00 and set a neutral rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, ZoomInfo Technologies has a consensus rating of Hold and a consensus target price of $13.83.

ZoomInfo Technologies Stock Up 8.6 %

Shares of ZI stock traded up $0.69 during mid-day trading on Wednesday, reaching $8.70. 22,942,157 shares of the company were exchanged, compared to its average volume of 6,625,705. ZoomInfo Technologies has a fifty-two week low of $7.65 and a fifty-two week high of $19.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $3.25 billion, a P/E ratio of 42.70, a P/E/G ratio of 2.50 and a beta of 1.06. The business’s 50 day simple moving average is $11.85 and its 200 day simple moving average is $14.31.

ZoomInfo Technologies (NASDAQ:ZI) last released its quarterly earnings data on Monday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.07). ZoomInfo Technologies had a return on equity of 12.00% and a net margin of 6.24%. The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $307.68 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts predict that ZoomInfo Technologies will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Ali Dasdan sold 5,862 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $11.90, for a total transaction of $69,757.80. Following the completion of the transaction, the chief technology officer now directly owns 87,540 shares in the company, valued at approximately $1,041,726. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $12.37, for a total transaction of $92,775.00. Following the completion of the transaction, the chief financial officer now owns 1,316,518 shares of the company’s stock, valued at $16,285,327.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Ali Dasdan sold 5,862 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total transaction of $69,757.80. Following the transaction, the chief technology officer now directly owns 87,540 shares of the company’s stock, valued at approximately $1,041,726. The disclosure for this sale can be found here. Insiders have sold 23,974 shares of company stock valued at $298,154 over the last quarter. Insiders own 8.10% 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.