ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Down – Time to Sell?

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $13.08, but opened at $11.05. ZoomInfo Technologies shares last traded at $10.98, with a volume of 3,413,383 shares changing hands.

Analyst Upgrades and Downgrades

ZI has been the subject of several research reports. Stifel Nicolaus decreased their target price on ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. DA Davidson downgraded shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $9.50 in a research report on Tuesday, August 6th. Barclays cut their target price on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Raymond James downgraded shares of ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Finally, Daiwa Capital Markets cut shares of ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $9.00 in a research note on Tuesday, August 13th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.76.

ZoomInfo Technologies Price Performance

The company’s 50-day simple moving average is $10.49 and its 200 day simple moving average is $11.37. The company has a market cap of $3.94 billion, a PE ratio of 364.79, a PEG ratio of 8.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new position in ZoomInfo Technologies in the third quarter valued at $31,000. J.Safra Asset Management Corp lifted its position in shares of ZoomInfo Technologies by 955.2% during the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock worth $34,000 after purchasing an additional 2,388 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in ZoomInfo Technologies in the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its stake in ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of ZoomInfo Technologies by 598.5% in the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock worth $54,000 after buying an additional 2,861 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

ZoomInfo Technologies Company Profile

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.