Fintel reports that on July 7, 2023, Needham reiterated coverage of ZoomInfo Technologies (NASDAQ:ZI) with a Buy recommendation.
Analyst Price Forecast Suggests 33.43% Upside
As of July 6, 2023, the average one-year price target for ZoomInfo Technologies is 33.15. The forecasts range from a low of 25.25 to a high of $57.22. The average price target represents an increase of 33.43% from its latest reported closing price of 24.84.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ZoomInfo Technologies is 1,382MM, an increase of 19.45%. The projected annual non-GAAP EPS is 1.01.
What is the Fund Sentiment?
There are 887 funds or institutions reporting positions in ZoomInfo Technologies. This is a decrease of 12 owner(s) or 1.33% in the last quarter. Average portfolio weight of all funds dedicated to ZI is 0.40%, a decrease of 15.68%. Total shares owned by institutions decreased in the last three months by 2.80% to 425,950K shares. 
The put/call ratio of ZI is 0.64, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 36,665K shares representing 9.11% ownership of the company. In it's prior filing, the firm reported owning 40,240K shares, representing a decrease of 9.75%. The firm decreased its portfolio allocation in ZI by 27.50% over the last quarter.
Carlyle Group holds 36,662K shares representing 9.11% ownership of the company. No change in the last quarter.
Ta Associates holds 23,300K shares representing 5.79% ownership of the company. No change in the last quarter.
Dragoneer Investment Group holds 21,204K shares representing 5.27% ownership of the company. In it's prior filing, the firm reported owning 14,906K shares, representing an increase of 29.70%. The firm decreased its portfolio allocation in ZI by 10.75% over the last quarter.
Wellington Management Group Llp holds 18,452K shares representing 4.59% ownership of the company. In it's prior filing, the firm reported owning 25,045K shares, representing a decrease of 35.73%. The firm decreased its portfolio allocation in ZI by 40.25% over the last quarter.
ZoomInfo Technologies Background Information
(This description is provided by the company.)
ZoomInfo is a Go-To-Market Intelligence Solution for more than 20,000 companies worldwide. The ZoomInfo platform empowers business-to-business sales, marketing, and recruiting professionals to hit their number by pairing best-in-class technology with unrivaled data coverage, accuracy, and depth of company and contact information. With integrations embedded into workflows and technology stacks, including the leading CRM, Sales Engagement, Marketing Automation, and Talent Management applications, ZoomInfo drives more predictable, accelerated, and sustainable growth for its customers. ZoomInfo emphasizes GDPR and CCPA compliance. In addition to creating the industry's first proactive notice program, the company is a registered data broker with the states of California and Vermont. Read about ZoomInfo's commitment to compliance, privacy, and security.
Additional reading:
- ZoomInfo Announces First Quarter 2023 Financial Results GAAP Revenue of $300.7 million Grows 24% year-over-year GAAP Operating Margin of 22% and Adjusted Operating Income Margin of 40% Cash Flow from Operations of $108.6 million and Unlevered Free Ca
- Form of Performance Restricted Stock Unit Agreement under 2020 Omnibus Incentive Plan
- Employment Agreement, dated as of April 21, 2023, between ZoomInfo Technologies LLC and Ali Dasdan
- ZoomInfo Announces $100 Million Share Repurchase Program
- , 2023, by and among ZoomInfo, LLC (f/k/a DiscoverOrg, LLC), a Delaware limited liability company (the “Borrower”), ZoomInfo Technologies LLC, a Delaware limited liability company (the “Co-Borrower”), ZoomInfo Midco LLC (f/k/a DiscoverOrg Midco, LLC), a Delaware limited liability company (“Holdings”), the other guarantors party thereto, each lender and L/C issuer party thereto, and Morgan Stanley Senior Funding, Inc., as administrative agent, collateral agent and L/C issuer.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
