ZoomInfo Technologies (NASDAQ:ZI) Updates FY 2022 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.78-$0.80 for the period, compared to the consensus estimate of $0.76. The company issued revenue guidance of $1.08 billion-$1.09 billion, compared to the consensus revenue estimate of $1.06 billion. ZoomInfo Technologies also updated its Q3 2022 guidance to $0.19-$0.20 EPS.

ZoomInfo Technologies Price Performance

NASDAQ:ZI opened at $47.73 on Monday. The business’s 50-day moving average price is $37.33 and its 200-day moving average price is $46.46. The firm has a market cap of $19.25 billion, a P/E ratio of 176.78, a PEG ratio of 3.03 and a beta of 1.62. ZoomInfo Technologies has a 52-week low of $30.31 and a 52-week high of $79.17. The company has a quick ratio of 1.20, a current ratio of 1.08 and a debt-to-equity ratio of 0.58.

ZoomInfo Technologies (NASDAQ:ZI – Get Rating) last released its quarterly earnings results on Monday, August 1st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. ZoomInfo Technologies had a return on equity of 7.16% and a net margin of 13.61%. The business had revenue of $267.10 million during the quarter, compared to analyst estimates of $254.45 million. During the same quarter last year, the company posted $0.11 EPS. ZoomInfo Technologies’ revenue for the quarter was up 53.5% on a year-over-year basis. As a group, sell-side analysts predict that ZoomInfo Technologies will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZI shares. Morgan Stanley decreased their price objective on ZoomInfo Technologies from $81.00 to $66.00 and set an overweight rating for the company in a research report on Thursday, July 14th. Credit Suisse Group decreased their price objective on ZoomInfo Technologies from $100.00 to $80.00 and set an outperform rating for the company in a research report on Tuesday, August 2nd. UBS Group lifted their price target on ZoomInfo Technologies from $50.00 to $53.00 and gave the company a buy rating in a report on Tuesday, August 2nd. TheStreet lowered ZoomInfo Technologies from a c- rating to an ad rating in a report on Thursday, May 19th. Finally, Raymond James reduced their price target on ZoomInfo Technologies from $70.00 to $65.00 in a report on Tuesday, May 3rd. Eighteen research analysts have rated the stock with a buy rating. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $69.89.

Insiders Place Their Bets

In other news, COO Joseph Christopher Hays sold 57,213 shares of ZoomInfo Technologies stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $43.33, for a total transaction of $2,479,039.29. Following the sale, the chief operating officer now owns 681,825 shares of the company’s stock, valued at approximately $29,543,477.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Henry Schuck sold 48,264 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $42.05, for a total transaction of $2,029,501.20. Following the completion of the sale, the chief executive officer now owns 15,431,762 shares in the company, valued at $648,905,592.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joseph Christopher Hays sold 57,213 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $43.33, for a total value of $2,479,039.29. Following the sale, the chief operating officer now owns 681,825 shares of the company’s stock, valued at approximately $29,543,477.25. The disclosure for this sale can be found here. Insiders have sold a total of 310,346 shares of company stock valued at $13,303,170 in the last three months. Company insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On ZoomInfo Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its holdings in ZoomInfo Technologies by 16.2% in the first quarter. US Bancorp DE now owns 13,497 shares of the company’s stock valued at $807,000 after purchasing an additional 1,879 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in ZoomInfo Technologies by 78.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,357 shares of the company’s stock valued at $678,000 after purchasing an additional 4,999 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ZoomInfo Technologies by 47.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,925 shares of the company’s stock worth $115,000 after acquiring an additional 617 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of ZoomInfo Technologies by 294.1% in the first quarter. Panagora Asset Management Inc. now owns 24,918 shares of the company’s stock worth $1,489,000 after acquiring an additional 18,596 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of ZoomInfo Technologies by 10.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 43,573 shares of the company’s stock worth $2,603,000 after buying an additional 4,118 shares during the period. Institutional investors own 82.92% of the company’s stock.

About ZoomInfo Technologies

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ZoomInfo Technologies Inc, through its subsidiaries, provides a 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 continuously 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.

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