ZoomInfo Technologies (NASDAQ:ZI) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank initiated coverage on shares of ZoomInfo Technologies (NASDAQ:ZI) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued a sector perform rating and a $10.30 price objective on the stock.

Other research analysts also recently issued reports about the company. DA Davidson downgraded ZoomInfo Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $9.50 in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price objective on shares of ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their target price on shares of ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Truist Financial lowered their price target on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Wells Fargo & Company reduced their target price on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.72.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI opened at $10.62 on Monday. The stock has a 50-day simple moving average of $10.55 and a two-hundred day simple moving average of $11.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. ZoomInfo Technologies has a 52-week low of $7.65 and a 52-week high of $19.39. The firm has a market capitalization of $3.88 billion, a PE ratio of 354.12, a P/E/G ratio of 5.89 and a beta of 1.03.

Insider Buying and Selling

In related news, CEO Henry Schuck acquired 492,500 shares of ZoomInfo Technologies stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the transaction, the chief executive officer now owns 12,280,501 shares in the company, valued at $125,875,135.25. This represents a 4.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZI. J.Safra Asset Management Corp increased its stake in ZoomInfo Technologies by 955.2% during the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock worth $34,000 after purchasing an additional 2,388 shares during the period. Raleigh Capital Management Inc. acquired a new stake in ZoomInfo Technologies in the 3rd quarter valued at about $31,000. Covestor Ltd increased its stake in shares of ZoomInfo Technologies by 598.5% during the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock worth $54,000 after buying an additional 2,861 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in ZoomInfo Technologies in the third quarter worth approximately $37,000. Finally, GAMMA Investing LLC boosted its holdings in shares of ZoomInfo Technologies by 114.9% in the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.