ZoomInfo Technologies (NASDAQ:ZI) Updates FY 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.000-1.020 for the period, compared to the consensus estimate of 1.000. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. ZoomInfo Technologies also updated its Q2 2024 guidance to 0.230-0.240 EPS.

ZoomInfo Technologies Stock Up 3.6 %

Shares of ZI traded up $0.44 during trading hours on Thursday, hitting $12.58. The stock had a trading volume of 10,405,444 shares, compared to its average volume of 6,559,160. ZoomInfo Technologies has a 1-year low of $11.67 and a 1-year high of $30.16. The firm has a market capitalization of $4.78 billion, a P/E ratio of 46.59, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. The firm has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $15.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.35 and a quick ratio of 1.35.

ZoomInfo Technologies (NASDAQ:ZI) last issued its earnings results on Monday, February 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $316.40 million for the quarter, compared to analysts’ expectations of $310.62 million. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. ZoomInfo Technologies’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.13 EPS. Sell-side analysts predict that ZoomInfo Technologies will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho cut ZoomInfo Technologies from a buy rating to a neutral rating and cut their price objective for the stock from $23.00 to $14.00 in a research report on Wednesday. DA Davidson raised their price objective on shares of ZoomInfo Technologies from $25.00 to $27.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Jefferies Financial Group initiated coverage on shares of ZoomInfo Technologies in a research note on Wednesday, February 7th. They issued a buy rating and a $20.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of ZoomInfo Technologies from $28.00 to $21.00 and set an overweight rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered their price target on shares of ZoomInfo Technologies from $20.00 to $18.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $19.00.

About ZoomInfo Technologies

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.