ZoomInfo Technologies (NASDAQ:ZI) had its price objective raised by analysts at Morgan Stanley from $55.00 to $72.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 31.36% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on ZI. Royal Bank of Canada upgraded shares of ZoomInfo Technologies from a “sector perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, November 5th. Mizuho raised their price target on shares of ZoomInfo Technologies from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens restated a “buy” rating and issued a $60.00 price target on shares of ZoomInfo Technologies in a research note on Monday, January 25th. Barclays raised their price target on shares of ZoomInfo Technologies from $49.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Credit Suisse Group restated an “outperform” rating and issued a $70.00 price target (up from $60.00) on shares of ZoomInfo Technologies in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. ZoomInfo Technologies has a consensus rating of “Buy” and a consensus target price of $57.35.
Shares of ZoomInfo Technologies stock opened at $54.81 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.88. ZoomInfo Technologies has a 12-month low of $30.83 and a 12-month high of $64.40. The firm’s 50-day moving average price is $50.16 and its two-hundred day moving average price is $43.22.
ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Sunday, February 21st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $139.70 million for the quarter, compared to analyst estimates of $130.44 million. The company’s revenue for the quarter was up 53.3% compared to the same quarter last year.
In other ZoomInfo Technologies news, major shareholder 22C Capital Gp I, L.L.C sold 1,210,277 shares of the firm’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $43.88, for a total transaction of $53,106,954.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Todd Crockett sold 126,641 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $58.13, for a total transaction of $7,361,641.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,249,591 shares of company stock valued at $258,463,216.
Several large investors have recently added to or reduced their stakes in ZI. Cambridge Investment Research Advisors Inc. increased its stake in shares of ZoomInfo Technologies by 25.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,525 shares of the company’s stock valued at $409,000 after acquiring an additional 1,925 shares in the last quarter. TCW Group Inc. purchased a new position in shares of ZoomInfo Technologies in the 3rd quarter worth about $9,225,000. Banque Cantonale Vaudoise bought a new stake in ZoomInfo Technologies in the 3rd quarter valued at about $150,000. Steward Partners Investment Advisory LLC bought a new stake in shares of ZoomInfo Technologies during the third quarter valued at about $142,000. Finally, Paragon Advisors LLC bought a new stake in shares of ZoomInfo Technologies during the third quarter valued at about $511,000.
About ZoomInfo Technologies
ZoomInfo Technologies Inc operates cloud-based go-to-market intelligence platform for sales and marketing teams worldwide. The company's platform provides information and insights on the target organizations and professionals. Its customers operate in various industry verticals, including software, business services, manufacturing, telecommunications, financial services and insurance, retail, media and internet, transportation, education, hospitality, healthcare, and real estate, as well as enterprises, mid-market companies, and small and medium-sized business.
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