ZoomInfo Technologies (NASDAQ:ZI) Releases Earnings Results, Misses Expectations By $0.07 EPS

ZoomInfo Technologies (NASDAQ:ZI) released its quarterly earnings data on Monday. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.07), Briefing.com reports. ZoomInfo Technologies had a return on equity of 12.00% and a net margin of 6.24%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $307.68 million. During the same quarter last year, the company earned $0.16 EPS. ZoomInfo Technologies’s revenue was down 5.5% compared to the same quarter last year. ZoomInfo Technologies updated its Q3 guidance to $0.21-0.22 EPS and its FY24 guidance to $0.86-0.88 EPS.

ZoomInfo Technologies Trading Down 18.3 %

Shares of ZI stock opened at $8.01 on Wednesday. The firm has a fifty day moving average of $11.85 and a 200-day moving average of $14.31. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.50 and a beta of 1.06. ZoomInfo Technologies has a 52-week low of $7.65 and a 52-week high of $19.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Activity at ZoomInfo Technologies

In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $12.37, for a total value of $92,775.00. Following the completion of the transaction, the chief financial officer now directly owns 1,316,518 shares of the company’s stock, valued at approximately $16,285,327.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Mark Patrick Mader sold 3,112 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $39,771.36. Following the completion of the sale, the director now directly owns 17,622 shares in the company, valued at $225,209.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Peter Cameron Hyzer sold 7,500 shares of ZoomInfo Technologies stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $12.37, for a total value of $92,775.00. Following the completion of the transaction, the chief financial officer now directly owns 1,316,518 shares of the company’s stock, valued at $16,285,327.66. The disclosure for this sale can be found here. Insiders have sold a total of 23,974 shares of company stock valued at $298,154 over the last quarter. 8.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ZI shares. Royal Bank of Canada lowered their price target on shares of ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a research report on Tuesday. Bank of America lowered shares of ZoomInfo Technologies from a “buy” rating to an “underperform” rating and dropped their price target for the company from $23.00 to $8.00 in a research note on Tuesday. Piper Sandler reduced their price objective on ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. KeyCorp cut ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Finally, UBS Group reduced their price target on ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.83.

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.