ZoomInfo Technologies (NASDAQ:GTM) Trading Up 7.8% - Here's What Happened

Key Points

• ZoomInfo Technologies Inc. saw its share price increase by 7.8%, closing at $11.37 after trading as high as $11.40 during the day.
• Multiple analysts have upgraded their ratings on the stock, with Piper Sandler raising the target price from $11.00 to $12.00 and Wall Street Zen moving from a "hold" to a "buy" rating.
• The company has a current market capitalization of $3.63 billion and a relatively high price-to-earnings ratio of 43.85.

ZoomInfo Technologies Inc. (NASDAQ:GTM - Get Free Report)'s share price rose 7.8% during mid-day trading on Wednesday . The stock traded as high as $11.40 and last traded at $11.37. Approximately 4,552,503 shares traded hands during trading, a decline of 21% from the average daily volume of 5,758,109 shares. The stock had previously closed at $10.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler raised their target price on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen raised shares of ZoomInfo Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Royal Bank Of Canada lifted their price target on shares of ZoomInfo Technologies from $6.00 to $7.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of ZoomInfo Technologies in a research note on Thursday, May 22nd. Finally, DA Davidson started coverage on shares of ZoomInfo Technologies in a research report on Tuesday, August 5th. They set a "neutral" rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $10.50.

ZoomInfo Technologies Stock Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day simple moving average of $10.43. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 2.24 and a beta of 1.19.

Insider Transactions at ZoomInfo Technologies

In other ZoomInfo Technologies news, CRO James M. Roth sold 14,773 shares of the stock in a transaction that occurred 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 transaction, the executive directly owned 40,877 shares in the company, valued at $410,813.85. This represents a 26.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 21,438 shares of company stock valued at $216,402 over the last three months. Corporate insiders own 9.00% of the company's stock.

ZoomInfo Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.