ZoomInfo Technologies, Inc. (NASDAQ:ZI) shares are trading lower Tuesday after the company issued weak guidance and several analysts lowered their ZI price targets.
The Details:
ZoomInfo reported its second quarter financial results on Monday and cut its anticipated fiscal year 2023 revenue to between $1.225 billion and $1.235 billion, down from between $1.275 billion and $1.285 billion.
Several analysts have lowered their price targets for ZI following the release of its financial reports.
- Truist Securities analyst Terry Tillman maintained ZoomInfo Technologies with a Hold and lowered the price target from $28 to $24.
- Stifel analyst Parker Lane maintained ZoomInfo with a Buy and lowered the price target from $30 to $27.
- RBC Capital analyst Rishi Jaluria maintained ZoomInfo Technologies with a Sector Perform rating and lowered the price target from $28 to $22.
- Goldman Sachs analyst Kash Rangan maintained ZoomInfo with a Buy and lowered the price target from $34 to $30.
- Bank of America Securities analyst Koji Ikeda maintained ZoomInfo Technologies with a Neutral and lowered the price target from $30 to $28.
- Mizuho analyst Siti Panigrahi maintained ZoomInfo with a Buy and lowered the price target from $36 to $30.
- Wells Fargo analyst Michael Turrin maintained ZoomInfo Technologies with an Overweight and lowered the price target from $34 to $28.
- Raymond James analyst Brian Peterson maintained ZoomInfo with an Outperform and lowered the price target from $28 to $26.
- Barclays analyst Raimo Lenschow maintained ZoomInfo Technologies with an Overweight and lowered the price target from $34 to $25.
- Needham analyst Joshua Reilly reiterated ZoomInfo with a Buy and maintained $35 price target.
- Deutsche Bank analyst Brad Zelnick downgraded ZoomInfo Technologies from Buy to Hold and announced a $20 price target.
- Piper Sandler analyst Brent Bracelin maintained ZoomInfo with an Overweight and lowered the price target from $30 to $26.
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ZI Price Action: According to Benzinga Pro, ZoomInfo shares are trading 25.3% lower at $19.10 at the time of publication.
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