Barclays Raises Price Target for ZoomInfo Technologies Stock

Analysts at Barclays have revised their price target for the shares of ZoomInfo Technologies (NASDAQ: ZI) from $11.00 to $12.00. This change was revealed in a research report released to clients and investors on Friday, indicating an "equal weight" rating for the stock. The new price target suggests a potential upside of approximately 9% based on the stock's previous closing price.

Market Reactions and Other Ratings

ZoomInfo Technologies has recently been a subject of various analysts' reports. For instance, Daiwa Capital Markets downgraded the company from an "outperform" rating to a "neutral" rating, lowering their target price from $15.00 to $9.00 in a report issued on August 13. Similarly, Citigroup adjusted its target price from $7.00 to $8.50, assigning a "sell" rating on November 14.

On the hopeful side, Needham & Company LLC affirmed a "buy" rating with a target price set at $15.00, echoed by Piper Sandler who raised their price goal from $10.00 to $11.00, maintaining a "neutral" stance. Mizuho also increased their target from $9.00 to $11.00 while retaining a "neutral" rating. Overall, among various equity research analysts, four have issued sell ratings, thirteen rated the stock as hold, and five provided buy ratings. According to MarketBeat, the consensus rating is currently "Hold" with a target price averaging around $12.77.

Stock Performance

On Friday, shares of ZoomInfo Technologies climbed by 0.4%, reaching $11.01 during the trading session. The trading volume totaled 1,707,413 shares, in comparison to the average volume of 7,093,712. The stock has experienced a year low of $7.65 and a high of $19.39. With a market capitalization of $3.78 billion, the company's shares show a P/E ratio of 367.12 and a P/E/G ratio of 14.63, demonstrating a beta of 1.02. The 50-day and 200-day moving averages are currently at $10.67 and $10.96, respectively. Financial ratios indicate a current ratio and a quick ratio of 0.63, along with a debt-to-equity ratio of 0.73.

Insider Trading Activity

In recent insider trading news, CEO Henry Schuck purchased 492,500 shares of ZoomInfo Technologies on November 15 at an average price of $10.25, totaling an investment of $5,048,125. Following this acquisition, the CEO's total shareholdings increased to 12,280,501 shares, worth approximately $125.88 million. On another note, director David Randall Winn sold 290,541 shares on December 3, at an average price of $11.06, accumulating a total of $3,213,383.46. This sale resulted in a reduction of his stake to 1,266,807 shares, valued at about $14.01 million. Currently, corporate insiders hold around 8.10% of the company's stock.

Institutional Investors

Several institutional investors are modifying their holdings in ZoomInfo Technologies. For example, Raleigh Capital Management Inc. acquired shares worth about $31,000 during the third quarter. J.Safra Asset Management Corp saw a significant increase in its stakes by 955.2% in the last quarter, owning about 2,638 shares valued at $34,000. In the same vein, Mirae Asset Global Investments Co., Ltd. entered into a new acquisition in the third quarter worth around $37,000.

GAMMA Investing LLC boosted its holdings by 114.9% within the same timeframe, now possessing approximately 3,992 shares estimated at $41,000 after additional purchases. DekaBank Deutsche Girozentrale also entered with a notable stake of approximately $85,000 earlier this year. Currently, institutional investors and hedge funds hold about 95.47% of ZoomInfo Technologies' shares.

Company Overview

ZoomInfo Technologies Inc., along with its subsidiaries, offers a comprehensive go-to-market intelligence and engagement platform focusing on sales and marketing teams, both within the United States and globally. Their cloud-based platform provides essential information on organizations and professionals, assisting users in pinpointing target customers and decision-makers. It helps in continuously updating predictive lead and company scoring while monitoring buying signals and other critical attributes for crafting messages and tracking the sales funnel.

Conclusion

This analysis signifies the diverse perspectives held by analysts regarding the future of ZoomInfo Technologies. The upward revision of the price target by Barclays presents a more optimistic outlook, yet it coexists with caution from other analysts. Investors will continue to watch closely as the company navigates its market positioning in the coming months.

ZoomInfo, Barclays, Stocks