ZoomInfo Technologies (NASDAQ:ZI) Updates Q2 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.230-0.240 for the period, compared to the consensus EPS estimate of 0.250. The company issued revenue guidance of $306.0 million-$309.0 million, compared to the consensus revenue estimate of $313.1 million. ZoomInfo Technologies also updated its FY 2024 guidance to 1.000-1.020 EPS.

Wall Street Analyst Weigh In

ZI has been the topic of several recent analyst reports. DA Davidson raised their target price on shares of ZoomInfo Technologies from $25.00 to $27.00 and gave the company a buy rating in a report on Tuesday, February 13th. Wells Fargo & Company lowered their price objective on shares of ZoomInfo Technologies from $28.00 to $21.00 and set an overweight rating for the company in a research report on Wednesday. Morgan Stanley reduced their target price on ZoomInfo Technologies from $20.00 to $18.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Canaccord Genuity Group lowered their price target on ZoomInfo Technologies from $22.00 to $20.00 and set a buy rating for the company in a report on Wednesday. Finally, Stifel Nicolaus decreased their target price on ZoomInfo Technologies from $24.00 to $20.00 and set a buy rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $19.10.

ZoomInfo Technologies Stock Down 24.2 %

NASDAQ ZI traded down $3.88 during trading hours on Wednesday, hitting $12.14. The company's stock had a trading volume of 28,015,684 shares, compared to its average volume of 6,515,830. The company has a market capitalization of $4.61 billion, a PE ratio of 44.96, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58. ZoomInfo Technologies has a 52 week low of $11.67 and a 52 week high of $30.16. The company's 50-day simple moving average is $16.01 and its two-hundred day simple moving average is $15.89.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last posted its earnings results on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The company had revenue of $316.40 million for the quarter, compared to analyst estimates of $310.62 million. During the same quarter last year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts anticipate that ZoomInfo Technologies will post 0.64 EPS for the current fiscal year.

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.