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

ZoomInfo Technologies (NASDAQ:ZI) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Trading Down 3.6 %

NASDAQ ZI opened at $16.02 on Wednesday. ZoomInfo Technologies has a 12 month low of $12.36 and a 12 month high of $30.16. The company has a 50-day moving average of $16.04 and a 200-day moving average of $15.90. The company has a market cap of $6.08 billion, a P/E ratio of 59.34, a P/E/G ratio of 4.28 and a beta of 1.13. 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 announced its quarterly earnings results on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $316.40 million for the quarter, compared to analyst estimates of $310.62 million. ZoomInfo Technologies had a net margin of 8.66% and a return on equity of 11.25%. ZoomInfo Technologies’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. As a group, equities analysts predict that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on ZI. Needham & Company LLC reiterated a buy rating and set a $25.00 target price on shares of ZoomInfo Technologies in a report on Tuesday, February 20th. Bank of America raised shares of ZoomInfo Technologies from a neutral rating to a buy rating and boosted their target price for the stock from $20.00 to $25.00 in a research report on Monday, January 29th. Truist Financial raised their price target on shares of ZoomInfo Technologies from $16.00 to $20.00 and gave the company a hold rating in a report on Tuesday, February 13th. Piper Sandler lowered shares of ZoomInfo Technologies from an overweight rating to a neutral rating and cut their price objective for the stock from $24.00 to $15.00 in a report on Wednesday. Finally, Royal Bank of Canada restated an underperform rating and set a $14.00 target price on shares of ZoomInfo Technologies in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ZoomInfo Technologies currently has a consensus rating of Hold and an average price target of $20.15.

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.