Morgan Stanley Raises ZoomInfo Technologies (NASDAQ:ZI) Price Target to $72.00


Share on StockTwits

ZoomInfo Technologies (NASDAQ:ZI) had its target price boosted by equities research analysts at Morgan Stanley from $55.00 to $72.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 31.36% from the company’s previous close.

Several other analysts also recently issued reports on ZI. Stephens reiterated a “buy” rating and issued a $60.00 price target on shares of ZoomInfo Technologies in a report on Monday, January 25th. Mizuho increased their price target on ZoomInfo Technologies from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday. Barclays increased their price target on ZoomInfo Technologies from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ZoomInfo Technologies from $45.00 to $58.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $70.00 price objective (up from $60.00) on shares of ZoomInfo Technologies in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. ZoomInfo Technologies has a consensus rating of “Buy” and a consensus target price of $57.35.

ZI stock opened at $54.81 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.57 and a current ratio of 1.57. The business has a fifty day simple moving average of $50.16 and a 200-day simple moving average of $43.22. ZoomInfo Technologies has a 52 week low of $30.83 and a 52 week high of $64.40.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Sunday, February 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $139.70 million during the quarter, compared to analyst estimates of $130.44 million. The company’s quarterly revenue was up 53.3% on a year-over-year basis.

In other ZoomInfo Technologies news, Director Todd Crockett sold 1,734,233 shares of the firm’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $54.03, for a total value of $93,700,608.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Henry Schuck sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $41.41, for a total transaction of $16,564,000.00. Following the completion of the sale, the chief executive officer now owns 400,000 shares in the company, valued at approximately $16,564,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,249,591 shares of company stock worth $258,463,216.

A number of institutional investors have recently bought and sold shares of ZI. Ironwood Wealth Management LLC. bought a new position in shares of ZoomInfo Technologies during the 4th quarter valued at $29,000. NewSquare Capital LLC acquired a new stake in ZoomInfo Technologies in the 3rd quarter worth $28,000. Ancora Advisors LLC acquired a new stake in ZoomInfo Technologies in the 4th quarter worth $48,000. IFP Advisors Inc boosted its position in shares of ZoomInfo Technologies by 3,232.5% during the 4th quarter. IFP Advisors Inc now owns 1,333 shares of the company’s stock valued at $64,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in shares of ZoomInfo Technologies during the 4th quarter valued at about $69,000.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies Inc operates cloud-based go-to-market intelligence platform for sales and marketing teams worldwide. The company's platform provides information and insights on the target organizations and professionals. Its customers operate in various industry verticals, including software, business services, manufacturing, telecommunications, financial services and insurance, retail, media and internet, transportation, education, hospitality, healthcare, and real estate, as well as enterprises, mid-market companies, and small and medium-sized business.

See Also: Initial Coin Offering (ICO)

The Fly

Analyst Recommendations for ZoomInfo Technologies (NASDAQ:ZI)

Receive News & Ratings for ZoomInfo Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZoomInfo Technologies and related companies with MarketBeat.com's FREE daily email newsletter.