Morgan Stanley Issues Positive Forecast for ZoomInfo Technologies (NASDAQ:ZI) Stock Price

ZoomInfo Technologies (NASDAQ:ZI) had its target price boosted by equities researchers at Morgan Stanley from $11.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 8.24% from the stock’s current price.

Several other brokerages have also recently issued reports on ZI. KeyCorp cut ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Barclays raised their target price on ZoomInfo Technologies from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday. Scotiabank assumed coverage on shares of ZoomInfo Technologies in a research report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price target on the stock. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $11.00 in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.92.

ZoomInfo Technologies Stock Performance

ZI stock opened at $12.01 on Wednesday. The company has a 50-day simple moving average of $10.28 and a 200 day simple moving average of $10.34. The company has a market capitalization of $4.12 billion, a P/E ratio of 400.47, a PEG ratio of 13.05 and a beta of 1.01. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies has a fifty-two week low of $7.65 and a fifty-two week high of $17.14.

ZoomInfo Technologies (NASDAQ:ZI) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The company had revenue of $309.10 million for the quarter, compared to the consensus estimate of $297.64 million. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. Sell-side analysts predict that ZoomInfo Technologies will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David Randall Winn sold 290,541 shares of ZoomInfo Technologies stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the sale, the director now directly owns 1,266,807 shares in the company, valued at approximately $14,010,885.42. The trade was a 18.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Ali Dasdan sold 4,898 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at approximately $1,306,435.59. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZI. GAMMA Investing LLC increased its holdings in ZoomInfo Technologies by 29.1% during the 4th quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $54,000 after purchasing an additional 1,160 shares in the last quarter. Xponance Inc. raised its holdings in shares of ZoomInfo Technologies by 3.5% in the fourth quarter. Xponance Inc. now owns 36,173 shares of the company’s stock valued at $380,000 after buying an additional 1,226 shares during the last quarter. Fifth Third Bancorp lifted its position in ZoomInfo Technologies by 47.8% during the 4th quarter. Fifth Third Bancorp now owns 3,836 shares of the company’s stock worth $40,000 after buying an additional 1,241 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in ZoomInfo Technologies by 7.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock worth $353,000 after acquiring an additional 2,275 shares during the last quarter. Finally, State of Tennessee Department of Treasury increased its position in ZoomInfo Technologies by 2.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 95,894 shares of the company’s stock valued at $1,008,000 after acquiring an additional 2,294 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.