Fintel reports that on August 2, 2023, Wolfe Research downgraded their outlook for ZoomInfo Technologies (NASDAQ:ZI) from Outperform to Peer Perform.

Analyst Price Forecast Suggests 29.62% Upside

As of July 6, 2023, the average one-year price target for ZoomInfo Technologies is 33.15. The forecasts range from a low of 25.25 to a high of $57.22. The average price target represents an increase of 29.62% from its latest reported closing price of 25.57.

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The projected annual revenue for ZoomInfo Technologies is 1,382MM, an increase of 15.31%. The projected annual non-GAAP EPS is 1.01.

What is the Fund Sentiment?

There are 870 funds or institutions reporting positions in ZoomInfo Technologies. This is a decrease of 16 owner(s) or 1.81% in the last quarter. Average portfolio weight of all funds dedicated to ZI is 0.40%, a decrease of 16.20%. Total shares owned by institutions decreased in the last three months by 3.38% to 417,215K shares. The put/call ratio of ZI is 0.90, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 36,665K shares representing 9.11% ownership of the company. In it’s prior filing, the firm reported owning 40,240K shares, representing a decrease of 9.75%. The firm decreased its portfolio allocation in ZI by 27.50% over the last quarter.

Carlyle Group holds 36,662K shares representing 9.11% ownership of the company. No change in the last quarter.

Ta Associates holds 23,300K shares representing 5.79% ownership of the company. No change in the last quarter.

Dragoneer Investment Group holds 21,204K shares representing 5.27% ownership of the company. In it’s prior filing, the firm reported owning 14,906K shares, representing an increase of 29.70%. The firm decreased its portfolio allocation in ZI by 10.75% over the last quarter.

Wellington Management Group Llp holds 18,452K shares representing 4.59% ownership of the company. In it’s prior filing, the firm reported owning 25,045K shares, representing a decrease of 35.73%. The firm decreased its portfolio allocation in ZI by 40.25% over the last quarter.

ZoomInfo Technologies Background Information
(This description is provided by the company.)

ZoomInfo is a Go-To-Market Intelligence Solution for more than 20,000 companies worldwide. The ZoomInfo platform empowers business-to-business sales, marketing, and recruiting professionals to hit their number by pairing best-in-class technology with unrivaled data coverage, accuracy, and depth of company and contact information. With integrations embedded into workflows and technology stacks, including the leading CRM, Sales Engagement, Marketing Automation, and Talent Management applications, ZoomInfo drives more predictable, accelerated, and sustainable growth for its customers. ZoomInfo emphasizes GDPR and CCPA compliance. In addition to creating the industry’s first proactive notice program, the company is a registered data broker with the states of California and Vermont. Read about ZoomInfo’s commitment to compliance, privacy, and security.

This article originally appeared on Fintel

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