ZoomInfo Technologies (NASDAQ:GTM) Given New $7.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for ZoomInfo Technologies from $6.00 to $7.00, maintaining an "underperform" rating, indicating a potential downside of 26.78% from its current price.
• Other brokerages have conflicting views, with some like Needham & Company maintaining a "buy" rating and a $15.00 target, while Wells Fargo lowered its rating to "strong sell" with a $9.00 target.
• ZoomInfo's stock price was recorded at $9.56, with significant volume trading and a market cap of $3.14 billion, reflecting its ongoing volatility and market interest.

ZoomInfo Technologies (NASDAQ:GTM - Get Free Report) had its target price raised by Royal Bank Of Canada from $6.00 to $7.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential downside of 26.78% from the stock's current price.

Several other brokerages have also weighed in on GTM. DA Davidson began coverage on shares of ZoomInfo Technologies in a research report on Tuesday. They set a "neutral" rating and a $11.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of ZoomInfo Technologies in a research report on Thursday, May 22nd. Piper Sandler lifted their target price on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen upgraded shares of ZoomInfo Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Wells Fargo & Company lowered shares of ZoomInfo Technologies from a "hold" rating to a "strong sell" rating and reduced their price target for the company from $10.00 to $9.00 in a research report on Friday, June 13th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.50.

ZoomInfo Technologies Price Performance

Shares of ZoomInfo Technologies stock traded down $1.09 during trading on Tuesday, hitting $9.56. 6,333,621 shares of the company's stock traded hands, compared to its average volume of 5,903,982. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74. The business's fifty day simple moving average is $10.18. ZoomInfo Technologies has a twelve month low of $7.01 and a twelve month high of $13.39. The firm has a market cap of $3.14 billion, a P/E ratio of 79.67, a PEG ratio of 1.78 and a beta of 1.14.

Insider Buying and Selling

In related news, CRO James M. Roth sold 14,773 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $10.05, for a total value of $148,468.65. Following the completion of the transaction, the executive owned 40,877 shares of the company's stock, valued at approximately $410,813.85. This trade represents a 26.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 35,819 shares of company stock valued at $359,478 over the last ninety days. 9.00% of the stock is currently owned by corporate insiders.

About ZoomInfo Technologies

ZoomInfo Technologies Inc, through 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.

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