ZoomInfo Technologies (NASDAQ:GTM) Stock Price Down 7% - Here's What Happened

Key Points

• ZoomInfo shares fell about 7% in Monday mid-day trading, dropping from a previous close of $3.50 to around $3.26; trading volume was 94% below its average.
• The company beat quarterly EPS estimates, reporting $0.29 versus $0.21 expected, but revenue fell 2.9% year over year to $308.8 million.
• Analyst views remain cautious: MarketBeat reports a consensus “Reduce” rating and a $5.32 target price, despite recent upgrades and price-target increases from some firms.

ZoomInfo Technologies Inc. (NASDAQ:GTM - Get Free Report) was down 7% during mid-day trading on Monday. The company traded as low as $3.34 and last traded at $3.2550. Approximately 538,688 shares changed hands during trading, a decline of 94% from the average session volume of 8,898,333 shares. The stock had previously closed at $3.50.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of ZoomInfo Technologies from $15.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler upgraded ZoomInfo Technologies from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $3.00 to $4.00 in a report on Thursday. Citigroup boosted their price target on ZoomInfo Technologies from $2.00 to $2.50 and gave the stock a "sell" rating in a research report on Friday, August 7th. Stifel Nicolaus boosted their price target on ZoomInfo Technologies from $3.50 to $4.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Finally, UBS Group decreased their price objective on ZoomInfo Technologies from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, ZoomInfo Technologies has a consensus rating of "Reduce" and a consensus target price of $5.32.

ZoomInfo Technologies Trading Down 6.1%

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $956.30 million, a price-to-earnings ratio of -1.66, a P/E/G ratio of 0.58 and a beta of 0.79. The company's fifty day moving average is $3.99 and its two-hundred day moving average is $4.68.

ZoomInfo Technologies (NASDAQ:GTM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.08. ZoomInfo Technologies had a negative net margin of 46.26% and a positive return on equity of 22.80%. The business had revenue of $308.80 million for the quarter. During the same period in the previous year, the business earned $0.28 EPS. ZoomInfo Technologies's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that ZoomInfo Technologies Inc. will post 0.83 EPS for the current year.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CRO James Roth sold 20,773 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $3.70, for a total value of $76,860.10. Following the transaction, the executive owned 270,507 shares in the company, valued at approximately $1,000,875.90. This trade represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 29,135 shares of company stock valued at $109,908. Company insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On ZoomInfo Technologies

A number of hedge funds have recently bought and sold shares of GTM. Russell Investments Group Ltd. boosted its holdings in shares of ZoomInfo Technologies by 33.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 788,585 shares of the company's stock valued at $2,902,000 after buying an additional 199,586 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of ZoomInfo Technologies by 34.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 50,458 shares of the company's stock valued at $191,000 after buying an additional 12,879 shares during the last quarter. Fulcrum Asset Management LLP raised its stake in ZoomInfo Technologies by 702.2% during the 3rd quarter. Fulcrum Asset Management LLP now owns 296,494 shares of the company's stock worth $1,076,000 after acquiring an additional 259,536 shares in the last quarter. May Hill Capital LLC acquired a new stake in ZoomInfo Technologies during the 3rd quarter worth $41,000. Finally, Ullmann Wealth Partners Group LLC raised its stake in ZoomInfo Technologies by 33.0% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 16,346 shares of the company's stock worth $62,000 after acquiring an additional 4,055 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company's stock.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies provides cloud-based go-to-market intelligence and sales-enablement software for businesses. Its platform helps organizations identify prospective customers, understand account and contact information, monitor business activity, and coordinate sales and marketing efforts. The company serves customers across a range of industries and geographies, primarily through subscription-based software services.

Its product portfolio has included SalesOS, MarketingOS, OperationsOS and related tools designed to support business-to-business prospecting, account-based marketing, data management and revenue operations.

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