Citigroup Boosts ZoomInfo Technologies (NASDAQ:ZI) Price Target to $9.00

ZoomInfo Technologies (NASDAQ:ZI) had its price objective hoisted by Citigroup from $8.50 to $9.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price target would suggest a potential downside of 12.45% from the company’s current price.

ZI has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Piper Sandler reissued an “underweight” rating and issued a $10.00 price objective (down previously from $11.00) on shares of ZoomInfo Technologies in a research report on Monday, January 6th. Scotiabank began coverage on shares of ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 target price on the stock. Barclays cut their target price on shares of ZoomInfo Technologies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Mizuho boosted their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, ZoomInfo Technologies currently has a consensus rating of “Hold” and an average target price of $12.15.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI opened at $10.28 on Tuesday. The stock has a market capitalization of $3.53 billion, a PE ratio of 342.78, a price-to-earnings-growth ratio of 13.57 and a beta of 1.01. ZoomInfo Technologies has a 52 week low of $7.65 and a 52 week high of $18.69. The stock has a 50 day moving average price of $10.40 and a 200 day moving average price of $10.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

Insider Activity

In other news, CEO Henry Schuck acquired 492,500 shares of ZoomInfo Technologies stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the purchase, the chief executive officer now directly owns 12,280,501 shares of the company’s stock, valued at approximately $125,875,135.25. This represents a 4.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Randall Winn sold 290,541 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at approximately $14,010,885.42. This trade represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Institutional Trading of ZoomInfo Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in ZoomInfo Technologies by 114.9% during the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock worth $41,000 after acquiring an additional 2,134 shares in the last quarter. Creative Planning acquired a new position in ZoomInfo Technologies during the 3rd quarter worth approximately $254,000. Raleigh Capital Management Inc. bought a new position in ZoomInfo Technologies in the 3rd quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ZoomInfo Technologies in the third quarter valued at approximately $37,000. Finally, State of Alaska Department of Revenue grew its stake in shares of ZoomInfo Technologies by 7.1% during the third quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock worth $353,000 after buying an additional 2,275 shares during the last quarter. 95.47% of the stock is currently owned by 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.