ZoomInfo Technologies (NASDAQ:ZI) Given New $72.00 Price Target at Morgan Stanley


Share on StockTwits

ZoomInfo Technologies (NASDAQ:ZI) had its price objective upped by equities research analysts at Morgan Stanley from $55.00 to $72.00 in a report issued on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 31.36% from the stock’s current price.

Several other research firms have also weighed in on ZI. Deutsche Bank Aktiengesellschaft raised their target price on ZoomInfo Technologies from $45.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday. Mizuho lifted their price objective on ZoomInfo Technologies from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays lifted their price objective on ZoomInfo Technologies from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Credit Suisse Group reiterated an “outperform” rating and issued a $70.00 price objective (up from $60.00) on shares of ZoomInfo Technologies in a research note on Tuesday. Finally, Stephens reiterated a “buy” rating and issued a $60.00 price objective on shares of ZoomInfo Technologies in a research note on Monday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.35.

Shares of NASDAQ:ZI opened at $54.81 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.88. ZoomInfo Technologies has a 1 year low of $30.83 and a 1 year high of $64.40. The business has a fifty day simple moving average of $50.16 and a 200 day simple moving average of $43.22.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Sunday, February 21st. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $139.70 million for the quarter, compared to analysts’ expectations of $130.44 million. The company’s revenue for the quarter was up 53.3% compared to the same quarter last year.

In related news, Director Todd Crockett sold 1,734,233 shares of ZoomInfo Technologies stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $54.03, for a total transaction of $93,700,608.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Nir Keren sold 142,964 shares of ZoomInfo Technologies stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $40.50, for a total transaction of $5,790,042.00. Following the completion of the sale, the chief technology officer now directly owns 170,000 shares of the company’s stock, valued at $6,885,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,249,591 shares of company stock worth $258,463,216.

A number of institutional investors and hedge funds have recently bought and sold shares of ZI. Carlyle Group Inc. bought a new stake in ZoomInfo Technologies in the second quarter valued at $5,418,750,000. FMR LLC acquired a new position in shares of ZoomInfo Technologies during the second quarter valued at about $316,008,000. Allianz Asset Management GmbH acquired a new position in shares of ZoomInfo Technologies during the third quarter valued at about $172,472,000. Vanguard Group Inc. acquired a new position in shares of ZoomInfo Technologies during the second quarter valued at about $167,078,000. Finally, Bamco Inc. NY acquired a new position in shares of ZoomInfo Technologies during the second quarter valued at about $163,418,000.

About ZoomInfo Technologies

ZoomInfo Technologies Inc operates cloud-based go-to-market intelligence platform for sales and marketing teams worldwide. The company's platform provides information and insights on the target organizations and professionals. Its customers operate in various industry verticals, including software, business services, manufacturing, telecommunications, financial services and insurance, retail, media and internet, transportation, education, hospitality, healthcare, and real estate, as well as enterprises, mid-market companies, and small and medium-sized business.

Further Reading: What are the benefits of buying treasury bonds?

The Fly

Analyst Recommendations for ZoomInfo Technologies (NASDAQ:ZI)

Receive News & Ratings for ZoomInfo Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZoomInfo Technologies and related companies with MarketBeat.com's FREE daily email newsletter.