ZoomInfo Technologies (NASDAQ:ZI) Price Target Raised to $13.00 at Morgan Stanley

ZoomInfo Technologies (NASDAQ:ZI) had its price target hoisted by stock analysts at Morgan Stanley from $11.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 12.70% from the stock’s previous close.

Several other equities research analysts have also weighed in on ZI. Piper Sandler raised ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $11.00 in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday. Wells Fargo & Company boosted their target price on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Mizuho increased their target price on ZoomInfo Technologies from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, ZoomInfo Technologies presently has an average rating of “Hold” and a consensus target price of $12.15.

ZoomInfo Technologies Trading Up 21.0 %

Shares of NASDAQ:ZI traded up $2.01 during mid-day trading on Wednesday, reaching $11.54. 15,025,890 shares of the company were exchanged, compared to its average volume of 6,587,395. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 385.10, a P/E/G ratio of 13.05 and a beta of 1.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $17.45. The firm’s 50-day simple moving average is $10.23 and its 200 day simple moving average is $10.32.

ZoomInfo Technologies (NASDAQ:ZI) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The firm had revenue of $309.10 million during the quarter, compared to analyst estimates of $297.64 million. Equities research analysts forecast that ZoomInfo Technologies will post 0.59 EPS for the current year.

Insider Activity at ZoomInfo Technologies

In other news, CTO Ali Dasdan sold 4,898 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at approximately $1,306,435.59. This represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Randall Winn sold 290,541 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total value of $3,213,383.46. Following the transaction, the director now directly owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. This represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZI. Victory Capital Management Inc. increased its stake in shares of ZoomInfo Technologies by 83.4% in the third quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock valued at $1,689,000 after buying an additional 74,455 shares in the last quarter. Alberta Investment Management Corp bought a new stake in ZoomInfo Technologies during the 4th quarter worth about $2,320,000. Versor Investments LP bought a new stake in shares of ZoomInfo Technologies during the third quarter worth approximately $516,000. State Street Corp raised its position in shares of ZoomInfo Technologies by 2.0% during the 3rd quarter. State Street Corp now owns 8,626,463 shares of the company’s stock valued at $89,025,000 after acquiring an additional 165,440 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in ZoomInfo Technologies in the third quarter valued at about $895,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.