ZoomInfo Technologies (NASDAQ:ZI) Earns “Equal Weight” Rating from Wells Fargo & Company

ZoomInfo Technologies (NASDAQ:ZI)‘s stock had its “equal weight” rating restated by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $11.00 target price on the stock, down from their previous target price of $14.00. Wells Fargo & Company‘s target price would suggest a potential upside of 4.96% from the stock’s previous close.

Several other equities research analysts have also recently commented on ZI. Mizuho increased their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Barclays increased their price target on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Scotiabank began coverage on ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price target for the company. Citigroup increased their price target on ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of ZoomInfo Technologies in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.57.

ZoomInfo Technologies Stock Performance

NASDAQ ZI opened at $10.48 on Tuesday. The company has a market cap of $3.60 billion, a PE ratio of 349.45, a price-to-earnings-growth ratio of 13.58 and a beta of 1.01. The stock’s 50 day simple moving average is $10.89 and its 200-day simple moving average is $10.67. ZoomInfo Technologies has a 1-year low of $7.65 and a 1-year high of $18.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Activity at ZoomInfo Technologies

In other news, CTO Ali Dasdan sold 4,898 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total value of $53,926.98. Following the completion of the sale, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at approximately $1,306,435.59. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Randall Winn sold 290,541 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total value of $3,213,383.46. Following the completion of the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. The trade was a 18.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of ZoomInfo Technologies

Several institutional investors and hedge funds have recently made changes to their positions in ZI. Raleigh Capital Management Inc. purchased a new stake in shares of ZoomInfo Technologies in the 3rd quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in ZoomInfo Technologies during the 3rd quarter worth approximately $37,000. GAMMA Investing LLC increased its position in ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock worth $41,000 after purchasing an additional 2,134 shares during the period. KBC Group NV increased its position in ZoomInfo Technologies by 39.0% during the 3rd quarter. KBC Group NV now owns 9,393 shares of the company’s stock worth $97,000 after purchasing an additional 2,635 shares during the period. Finally, American Trust acquired a new position in ZoomInfo Technologies during the 3rd quarter worth approximately $104,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.