FY2024 EPS Estimates for ZoomInfo Technologies Inc. Reduced by DA Davidson (NASDAQ:ZI)

ZoomInfo Technologies Inc. (NASDAQ:ZI) – Investment analysts at DA Davidson lowered their FY2024 earnings estimates for ZoomInfo Technologies in a research note issued on Tuesday, August 6th. DA Davidson analyst G. Luria now anticipates that the company will post earnings of $0.55 per share for the year, down from their previous estimate of $0.68. DA Davidson has a “Neutral” rating and a $9.50 price target on the stock. The consensus estimate for ZoomInfo Technologies’ current full-year earnings is $0.69 per share.

Several other equities analysts have also recently issued reports on ZI. UBS Group reduced their target price on ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company dropped their target price on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a research report on Tuesday. Canaccord Genuity Group reduced their price target on shares of ZoomInfo Technologies from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC cut their price objective on ZoomInfo Technologies from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on ZoomInfo Technologies from $17.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, ZoomInfo Technologies currently has an average rating of “Hold” and a consensus target price of $13.63.

ZoomInfo Technologies Trading Up 0.6 %

Shares of ZI stock traded up $0.05 on Thursday, hitting $9.00. 7,669,735 shares of the company’s stock traded hands, compared to its average volume of 6,710,231. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 45.00, a P/E/G ratio of 1.93 and a beta of 1.06. The company’s fifty day simple moving average is $11.64 and its 200 day simple moving average is $14.18. ZoomInfo Technologies has a one year low of $7.65 and a one year high of $19.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 0.97.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.07). The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $307.68 million. ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS.

Insiders Place Their Bets

In other news, CEO Henry Schuck bought 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the acquisition, the chief executive officer now owns 11,788,001 shares of the company’s stock, valued at approximately $100,080,128.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Peter Cameron Hyzer sold 7,500 shares of ZoomInfo Technologies stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $95,850.00. Following the sale, the chief financial officer now directly owns 1,279,023 shares of the company’s stock, valued at $16,345,913.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Henry Schuck purchased 1,500,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the acquisition, the chief executive officer now directly owns 11,788,001 shares in the company, valued at $100,080,128.49. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 23,974 shares of company stock worth $298,154. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Edgestream Partners L.P. bought a new stake in shares of ZoomInfo Technologies in the 2nd quarter worth about $1,357,000. Primecap Management Co. CA lifted its stake in shares of ZoomInfo Technologies by 152.8% during the 2nd quarter. Primecap Management Co. CA now owns 1,298,269 shares of the company’s stock worth $16,579,000 after acquiring an additional 784,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in ZoomInfo Technologies by 20.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,232,733 shares of the company’s stock valued at $41,279,000 after acquiring an additional 548,094 shares during the period. Envestnet Asset Management Inc. boosted its holdings in ZoomInfo Technologies by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 275,505 shares of the company’s stock valued at $3,518,000 after acquiring an additional 3,023 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in ZoomInfo Technologies by 4.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 108,002 shares of the company’s stock valued at $1,379,000 after acquiring an additional 4,571 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

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.