ZoomInfo Technologies (NASDAQ:ZI) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

ZoomInfo Technologies (NASDAQ:ZIGet Free Report) issued its quarterly earnings results on Monday. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01, MarketWatch Earnings reports. The business had revenue of $316.40 million for the quarter, compared to the consensus estimate of $310.62 million. ZoomInfo Technologies had a net margin of 11.10% and a return on equity of 10.74%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. ZoomInfo Technologies updated its Q1 guidance to $0.23-0.24 EPS and its FY24 guidance to $0.99-1.01 EPS.

ZoomInfo Technologies Trading Up 4.1 %

NASDAQ:ZI traded up $0.63 during trading hours on Monday, reaching $16.02. 17,454,708 shares of the stock were exchanged, compared to its average volume of 7,530,837. ZoomInfo Technologies has a twelve month low of $12.36 and a twelve month high of $30.16. The business has a 50-day moving average of $16.58 and a two-hundred day moving average of $16.57. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 47.12, a PEG ratio of 3.38 and a beta of 1.17. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Analyst Ratings Changes

ZI has been the subject of a number of recent analyst reports. Truist Financial lowered their target price on shares of ZoomInfo Technologies from $24.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, October 31st. Morgan Stanley downgraded ZoomInfo Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $24.00 to $20.00 in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective on shares of ZoomInfo Technologies from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 31st. Bank of America raised ZoomInfo Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $25.00 in a research note on Monday, January 29th. Finally, Raymond James cut their target price on shares of ZoomInfo Technologies from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.84.

View Our Latest Report on ZI

Insider Activity at ZoomInfo Technologies

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 5,007 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $14.69, for a total transaction of $73,552.83. Following the sale, the chief technology officer now directly owns 50,953 shares in the company, valued at $748,499.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On ZoomInfo Technologies

A number of hedge funds have recently bought and sold shares of ZI. US Bancorp DE raised its holdings in shares of ZoomInfo Technologies by 46.5% in the 4th quarter. US Bancorp DE now owns 28,617 shares of the company’s stock valued at $529,000 after purchasing an additional 9,083 shares in the last quarter. International Assets Investment Management LLC increased its holdings in ZoomInfo Technologies by 792.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,310 shares of the company’s stock valued at $61,000 after buying an additional 2,939 shares during the last quarter. American Century Companies Inc. raised its stake in ZoomInfo Technologies by 63.3% in the third quarter. American Century Companies Inc. now owns 17,967 shares of the company’s stock valued at $295,000 after buying an additional 6,963 shares in the last quarter. Comerica Bank lifted its holdings in ZoomInfo Technologies by 8,120.8% during the 3rd quarter. Comerica Bank now owns 136,547 shares of the company’s stock worth $2,239,000 after buying an additional 134,886 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of ZoomInfo Technologies by 34.0% during the 3rd quarter. Morgan Stanley now owns 12,332,175 shares of the company’s stock worth $202,248,000 after acquiring an additional 3,129,403 shares in the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.

About ZoomInfo Technologies

(Get Free Report)

ZoomInfo Technologies Inc, through 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.

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Earnings History for ZoomInfo Technologies (NASDAQ:ZI)

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