Piper Sandler Upgrades ZoomInfo Technologies (NASDAQ:ZI) to “Neutral”

Piper Sandler upgraded shares of ZoomInfo Technologies (NASDAQ:ZI) from an underweight rating to a neutral rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Piper Sandler currently has $11.00 price target on the stock, up from their previous price target of $10.00.

ZI has been the topic of a number of other research reports. Scotiabank began coverage on ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 target price on the stock. Citigroup raised their price objective on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Wells Fargo & Company restated an “equal weight” rating and issued a $11.00 price target (down from $14.00) on shares of ZoomInfo Technologies in a research report on Tuesday, January 7th. Finally, KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.88.

ZoomInfo Technologies Price Performance

NASDAQ ZI opened at $11.73 on Wednesday. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $17.45. The company has a fifty day simple moving average of $10.25 and a 200 day simple moving average of $10.33. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.03 billion, a P/E ratio of 391.13, a P/E/G ratio of 13.05 and a beta of 1.01.

ZoomInfo Technologies (NASDAQ:ZI) last released 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). The firm had revenue of $309.10 million for the quarter, compared to the consensus estimate of $297.64 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. On average, sell-side analysts predict that ZoomInfo Technologies will post 0.59 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in shares of ZoomInfo Technologies by 83.4% in the 3rd quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock valued at $1,689,000 after buying an additional 74,455 shares during the period. Alberta Investment Management Corp bought a new position in ZoomInfo Technologies in the fourth quarter valued at about $2,320,000. Versor Investments LP acquired a new stake in ZoomInfo Technologies in the third quarter worth about $516,000. State Street Corp raised 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 last quarter. Finally, XTX Topco Ltd acquired a new position in ZoomInfo Technologies during the 3rd quarter valued at about $895,000. 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.