ZoomInfo Technologies (NASDAQ:ZI) Issues Q2 2024 Earnings Guidance

ZoomInfo Technologies (NASDAQ:ZI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.230-0.240 for the period, compared to the consensus earnings per share estimate of 0.250. The company issued revenue guidance of $306.0 million-$309.0 million, compared to the consensus revenue estimate of $313.1 million. ZoomInfo Technologies also updated its FY 2024 guidance to 1.000-1.020 EPS.

ZoomInfo Technologies Stock Up 3.6 %

NASDAQ ZI traded up $0.44 during trading hours on Thursday, hitting $12.58. The company had a trading volume of 10,405,444 shares, compared to its average volume of 6,559,160. The firm’s 50 day moving average is $15.92 and its 200 day moving average is $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 has a fifty-two week low of $11.67 and a fifty-two week high of $30.16. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 46.59, a P/E/G ratio of 4.28 and a beta of 1.13.

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

Wall Street Analysts Forecast Growth

ZI has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on ZoomInfo Technologies from $28.00 to $21.00 and set an overweight rating on the stock in a research report on Wednesday. The Goldman Sachs Group downgraded shares of ZoomInfo Technologies from a neutral rating to a sell rating and reduced their price objective for the company from $19.50 to $12.00 in a research note on Wednesday. Truist Financial raised their price objective on shares of ZoomInfo Technologies from $16.00 to $20.00 and gave the stock a hold rating in a report on Tuesday, February 13th. Mizuho lowered shares of ZoomInfo Technologies from a buy rating to a neutral rating and cut their target price for the company from $23.00 to $14.00 in a research note on Wednesday. Finally, Morgan Stanley decreased their price target on ZoomInfo Technologies from $20.00 to $18.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ZoomInfo Technologies has a consensus rating of Hold and an average price target 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.