ZoomInfo Technologies (NASDAQ:GTM) Announces Earnings Results, Beats Expectations By $0.08 EPS

ZoomInfo Technologies (NASDAQ:GTM – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08, FiscalAI reports. The business had revenue of $308.80 million during the quarter. ZoomInfo Technologies had a positive return on equity of 20.92% and a negative net margin of 46.26%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share.

ZoomInfo Technologies Trading Up 0.6%

GTM traded up $0.02 during trading on Friday, reaching $3.50. 9,791,755 shares of the stock traded hands, compared to its average volume of 8,939,604. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.52. The stock’s 50-day moving average is $4.00 and its 200 day moving average is $4.70. ZoomInfo Technologies has a 12 month low of $2.54 and a 12 month high of $10.78. The stock has a market capitalization of $1.02 billion, a PE ratio of -1.78, a P/E/G ratio of 0.46 and a beta of 0.79.

Insider Buying and Selling at ZoomInfo Technologies

In other news, CRO James Roth sold 20,773 shares of ZoomInfo Technologies stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $3.70, for a total value of $76,860.10. Following the completion of the transaction, the executive directly owned 270,507 shares of the company’s stock, valued at approximately $1,000,875.90. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 29,135 shares of company stock valued at $109,908. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On ZoomInfo Technologies

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in ZoomInfo Technologies by 118.5% in the third quarter. GAMMA Investing LLC now owns 8,055 shares of the company’s stock worth $31,000 after acquiring an additional 4,369 shares in the last quarter. Wedmont Private Capital acquired a new stake in ZoomInfo Technologies in the second quarter valued at approximately $36,000. Waverly Advisors LLC acquired a new stake in ZoomInfo Technologies in the second quarter valued at approximately $38,000. IFP Advisors Inc grew its stake in ZoomInfo Technologies by 269.8% in the second quarter. IFP Advisors Inc now owns 13,364 shares of the company’s stock valued at $39,000 after acquiring an additional 9,750 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of ZoomInfo Technologies by 7,366.7% during the second quarter. NewEdge Advisors LLC now owns 13,440 shares of the company’s stock valued at $39,000 after acquiring an additional 13,260 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

GTM has been the topic of several recent research reports. Needham & Company LLC cut their target price on ZoomInfo Technologies from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group decreased their price target on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada raised their price objective on ZoomInfo Technologies from $3.00 to $3.50 and gave the stock an “underperform” rating in a research report on Thursday. Piper Sandler upgraded ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $4.00 in a research report on Thursday. Finally, Stifel Nicolaus lifted their price objective on ZoomInfo Technologies from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $5.32.

Read Our Latest Stock Report on ZoomInfo Technologies

Key Stories Impacting ZoomInfo Technologies

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ZoomInfo Technologies Company Profile

(Get Free Report)

ZoomInfo Technologies provides cloud-based go-to-market intelligence and sales-enablement software for businesses. Its platform helps organizations identify prospective customers, understand account and contact information, monitor business activity, and coordinate sales and marketing efforts. The company serves customers across a range of industries and geographies, primarily through subscription-based software services.

Its product portfolio has included SalesOS, MarketingOS, OperationsOS and related tools designed to support business-to-business prospecting, account-based marketing, data management and revenue operations.

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Earnings History for ZoomInfo Technologies (NASDAQ:GTM)

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