Mirae Asset Global Investments Co. Ltd. Makes New Investment in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Mirae Asset Global Investments Co. Ltd. bought a new position in ZoomInfo Technologies Inc. (NASDAQ:ZI) during the third quarter, Holdings Channel.com reports. The institutional investor bought 3,482 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors have also added to or reduced their stakes in ZI. J.Safra Asset Management Corp increased its position in shares of ZoomInfo Technologies by 955.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after purchasing an additional 2,388 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of ZoomInfo Technologies during the 3rd quarter valued at about $31,000. Covestor Ltd increased its position in shares of ZoomInfo Technologies by 598.5% during the 1st quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after purchasing an additional 2,861 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after purchasing an additional 2,134 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of ZoomInfo Technologies by 45.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock valued at $80,000 after purchasing an additional 1,547 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZI has been the topic of several recent research reports. Stifel Nicolaus reduced their price objective on ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Bank of America lowered ZoomInfo Technologies from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $23.00 to $8.00 in a research report on Tuesday, August 6th. Raymond James cut ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 6th. Wells Fargo & Company dropped their target price on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their target price on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.61.

ZoomInfo Technologies Trading Down 0.9 %

NASDAQ ZI opened at $11.19 on Wednesday. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day simple moving average of $10.24 and a two-hundred day simple moving average of $11.49. The stock has a market cap of $4.09 billion, a P/E ratio of 279.82, a price-to-earnings-growth ratio of 6.93 and a beta of 1.03.

ZoomInfo Technologies (NASDAQ:ZI) last released its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.07). The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $307.68 million. ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. On average, analysts forecast that ZoomInfo Technologies Inc. will post 0.55 earnings per share for the current year.

About ZoomInfo Technologies

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.