ZoomInfo Technologies (NASDAQ:ZI) Releases FY 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.920-0.930 for the period, compared to the consensus estimate of 0.880. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. ZoomInfo Technologies also updated its Q4 guidance to $0.22-0.23 EPS.

ZoomInfo Technologies Price Performance

Shares of ZoomInfo Technologies stock traded up $0.43 on Tuesday, hitting $13.08. 20,450,330 shares of the company traded hands, compared to its average volume of 6,779,872. ZoomInfo Technologies has a 12-month low of $7.65 and a 12-month high of $19.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The company has a market cap of $4.78 billion, a P/E ratio of 316.25, a P/E/G ratio of 7.34 and a beta of 1.03. The firm’s 50-day simple moving average is $10.42 and its 200 day simple moving average is $11.39.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James lowered shares of ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 6th. Stifel Nicolaus dropped their price objective on ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 6th. Daiwa America lowered ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Barclays reduced their price objective on shares of ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.61.

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.