ZoomInfo Technologies (NASDAQ:ZI) Updates Q2 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.230-0.240 for the period, compared to the consensus earnings per share estimate of 0.250. The company issued revenue guidance of $306.0 million-$309.0 million, compared to the consensus revenue estimate of $313.1 million. ZoomInfo Technologies also updated its FY 2024 guidance to 1.000-1.020 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of ZoomInfo Technologies from $28.00 to $21.00 and set an overweight rating for the company in a research note on Wednesday. Morgan Stanley dropped their price objective on ZoomInfo Technologies from $20.00 to $18.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Barclays decreased their target price on ZoomInfo Technologies from $19.00 to $15.00 and set an equal weight rating for the company in a research note on Wednesday. Citigroup lowered their price target on ZoomInfo Technologies from $13.00 to $11.00 and set a sell rating for the company in a report on Thursday. Finally, Mizuho cut ZoomInfo Technologies from a buy rating to a neutral rating and cut their price objective for the company from $23.00 to $14.00 in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven 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 $19.00.

ZoomInfo Technologies Stock Up 3.6 %

ZI traded up $0.44 on Thursday, hitting $12.58. 10,405,444 shares of the company were exchanged, compared to its average volume of 6,559,160. The stock’s fifty day moving average is $15.92 and its 200-day moving average is $15.87. ZoomInfo Technologies has a 12 month low of $11.67 and a 12 month high of $30.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $4.78 billion, a PE ratio of 46.59, a PEG ratio of 4.28 and a beta of 1.13.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $316.40 million for the quarter, compared to analysts’ expectations of $310.62 million. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 EPS. Equities research analysts predict that ZoomInfo Technologies will post 0.64 EPS for the current fiscal year.

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.