Citigroup Issues Positive Forecast for ZoomInfo Technologies (NASDAQ:ZI) Stock Price

ZoomInfo Technologies (NASDAQ:ZI) had its target price lifted by Citigroup from $8.50 to $9.00 in a research note published on Tuesday morning,Benzinga reports. Citigroup currently has a sell rating on the stock.

Other research analysts also recently issued reports about the stock. Barclays cut their target price on shares of ZoomInfo Technologies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank started coverage on shares of ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price objective on the stock. KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Piper Sandler reissued an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of ZoomInfo Technologies in a research note on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.15.

ZoomInfo Technologies Trading Down 0.6 %

Shares of ZI opened at $10.22 on Tuesday. The stock’s fifty day simple moving average is $10.40 and its 200-day simple moving average is $10.33. The firm has a market capitalization of $3.51 billion, a PE ratio of 340.78, a price-to-earnings-growth ratio of 13.57 and a beta of 1.01. ZoomInfo Technologies has a 12-month low of $7.65 and a 12-month high of $18.69. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling

In other news, CTO Ali Dasdan sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total transaction of $53,926.98. Following the completion of the transaction, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Randall Winn sold 290,541 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the sale, the director now directly owns 1,266,807 shares in the company, valued at approximately $14,010,885.42. This represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of ZoomInfo Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in ZoomInfo Technologies by 27.7% in the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock valued at $341,111,000 after purchasing an additional 7,177,687 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of ZoomInfo Technologies in the 3rd quarter valued at approximately $44,248,000. Pacer Advisors Inc. grew its stake in shares of ZoomInfo Technologies by 38.7% in the third quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock valued at $95,716,000 after buying an additional 2,585,631 shares in the last quarter. Primecap Management Co. CA raised its position in ZoomInfo Technologies by 70.4% during the fourth quarter. Primecap Management Co. CA now owns 4,371,901 shares of the company’s stock worth $45,949,000 after acquiring an additional 1,806,461 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in ZoomInfo Technologies by 304.5% in the fourth quarter. Retirement Systems of Alabama now owns 1,417,844 shares of the company’s stock valued at $14,902,000 after acquiring an additional 1,067,299 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

ZoomInfo Technologies Company Profile

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.