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Truist Securities Boosts ZoomInfo Technologies (NASDAQ:ZI) Price Target to $70.00

Tuesday, May 4, 2021 | MarketBeat

ZoomInfo Technologies (NASDAQ:ZI) had its price target upped by equities researchers at Truist Securities from $67.00 to $70.00 in a report issued on Tuesday, Stock Target Advisor reports. Truist Securities' price objective points to a potential upside of 44.81% from the stock's current price.

ZI has been the topic of several other research reports. Canaccord Genuity boosted their price target on ZoomInfo Technologies from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, February 24th. Stephens reaffirmed a "buy" rating and set a $60.00 price target on shares of ZoomInfo Technologies in a research note on Monday, January 25th. The Goldman Sachs Group assumed coverage on shares of ZoomInfo Technologies in a research note on Monday, March 29th. They issued a "buy" rating and a $65.00 price objective on the stock. Mizuho upped their price target on shares of ZoomInfo Technologies from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ZoomInfo Technologies from $58.00 to $54.00 and set a "hold" rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and an average price target of $60.48.

Shares of ZI traded down $1.57 during mid-day trading on Tuesday, hitting $48.34. The company's stock had a trading volume of 85,525 shares, compared to its average volume of 2,199,222. The firm has a 50-day simple moving average of $49.72 and a 200 day simple moving average of $47.32. ZoomInfo Technologies has a 1-year low of $30.83 and a 1-year high of $64.40. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.88.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Sunday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.11 by $0.02. The company had revenue of $153.30 million for the quarter, compared to analyst estimates of $145.49 million. The firm's revenue was up 50.3% on a year-over-year basis.

In other ZoomInfo Technologies news, Director Todd Crockett sold 1,734,233 shares of the stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $54.03, for a total transaction of $93,700,608.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Joseph Christopher Hays sold 46,448 shares of the firm's stock in a transaction on Friday, February 5th. The stock was sold at an average price of $55.32, for a total transaction of $2,569,503.36. Following the transaction, the executive now directly owns 50,000 shares of the company's stock, valued at $2,766,000. The disclosure for this sale can be found here. Insiders have sold a total of 4,798,274 shares of company stock worth $257,876,057 over the last 90 days.

A number of large investors have recently bought and sold shares of the stock. Morgan Stanley raised its stake in ZoomInfo Technologies by 78.4% during the fourth quarter. Morgan Stanley now owns 4,913,207 shares of the company's stock valued at $236,963,000 after buying an additional 2,159,914 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of ZoomInfo Technologies in the 4th quarter valued at approximately $65,407,000. BlackRock Inc. raised its position in shares of ZoomInfo Technologies by 21.7% during the 4th quarter. BlackRock Inc. now owns 7,503,412 shares of the company's stock valued at $361,890,000 after acquiring an additional 1,339,941 shares in the last quarter. Norges Bank acquired a new stake in shares of ZoomInfo Technologies during the 4th quarter valued at approximately $54,095,000. Finally, LA Financiere DE L Echiquier bought a new position in ZoomInfo Technologies during the fourth quarter worth $42,221,000.

ZoomInfo Technologies Company Profile

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 organizations and professionals. Its customers operate in various industry verticals, including software, business services, manufacturing, telecommunications, financial services, media and internet, transportation, education, hospitality, and real estate, as well as enterprises, mid-market companies, and down to small businesses.

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Analyst Recommendations for ZoomInfo Technologies (NASDAQ:ZI)

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