Morgan Stanley Cuts ZoomInfo Technologies (NASDAQ:ZI) Price Target to $10.00

ZoomInfo Technologies (NASDAQ:ZI) had its target price lowered by analysts at Morgan Stanley from $13.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 24.84% from the company’s previous close.

Several other analysts also recently weighed in on ZI. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $11.00 in a research report on Wednesday, February 26th. Mizuho cut their price target on ZoomInfo Technologies from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday. Stifel Nicolaus increased their price objective on ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Citigroup increased their price target on ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.58.

ZoomInfo Technologies Stock Up 0.3 %

NASDAQ:ZI opened at $8.01 on Wednesday. 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 stock has a 50 day moving average of $9.99 and a 200-day moving average of $10.34. The firm has a market capitalization of $2.74 billion, a PE ratio of 267.09, a price-to-earnings-growth ratio of 13.05 and a beta of 1.00. ZoomInfo Technologies has a 52 week low of $7.01 and a 52 week high of $16.98.

ZoomInfo Technologies (NASDAQ:ZI) last released its quarterly earnings data 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). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The company had revenue of $309.10 million for the quarter, compared to analyst estimates of $297.64 million. Analysts predict that ZoomInfo Technologies will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jericho Capital Asset Management L.P. bought a new position in ZoomInfo Technologies in the 4th quarter valued at $116,622,000. Deutsche Bank AG raised its holdings in shares of ZoomInfo Technologies by 21,345.2% in the fourth quarter. Deutsche Bank AG now owns 10,228,951 shares of the company’s stock valued at $107,506,000 after buying an additional 10,181,253 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of ZoomInfo Technologies in the fourth quarter valued at about $48,336,000. RPD Fund Management LLC acquired a new position in ZoomInfo Technologies during the 4th quarter worth about $43,264,000. Finally, Dimensional Fund Advisors LP grew its holdings in ZoomInfo Technologies by 67.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,236,035 shares of the company’s stock worth $55,029,000 after acquiring an additional 2,118,297 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

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.