ZoomInfo Technologies (NASDAQ:ZI) Trading Up 4.8% – Still a Buy?

Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) shot up 4.8% during mid-day trading on Wednesday . The company traded as high as $9.93 and last traded at $9.89. 3,450,665 shares traded hands during trading, a decline of 47% from the average session volume of 6,492,467 shares. The stock had previously closed at $9.44.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZI. Raymond James cut shares of ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Needham & Company LLC cut their price objective on ZoomInfo Technologies from $25.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Daiwa Capital Markets cut shares of ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $9.00 in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on ZoomInfo Technologies from $17.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their price target on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, ZoomInfo Technologies presently has an average rating of “Hold” and an average target price of $13.40.

ZoomInfo Technologies Trading Up 5.1 %

The firm’s 50 day moving average is $9.83 and its 200 day moving average is $12.22. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 47.20, a price-to-earnings-growth ratio of 6.06 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In related news, CEO Henry Schuck acquired 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $8.49 per share, for a total transaction of $12,735,000.00. Following the completion of the acquisition, the chief executive officer now owns 11,788,001 shares of the company’s stock, valued at $100,080,128.49. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp raised its holdings 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 worth $34,000 after buying an additional 2,388 shares in the last quarter. GAMMA Investing LLC lifted its stake in ZoomInfo Technologies by 114.9% in the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after buying an additional 2,134 shares during the period. Covestor Ltd increased its position in ZoomInfo Technologies by 598.5% in the 1st quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after buying an additional 2,861 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of ZoomInfo Technologies by 45.3% in the 1st quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock worth $80,000 after purchasing an additional 1,547 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of ZoomInfo Technologies during the first quarter worth about $85,000. Institutional investors own 95.47% of the company’s stock.

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.