JMP Securities analyst Patrick Walravens has maintained their neutral stance on ZI stock, giving a Hold rating on February 1.
Geoff Meacham has given his Hold rating due to a combination of factors surrounding ZoomInfo Technologies. After evaluating 21 data points, with a balance of both positive and negative aspects, the stock’s performance has been taken into account, particularly noting its 18% decline year to date. This is contrasted against the Nasdaq’s 6% increase, highlighting the relative underperformance of ZoomInfo’s shares. Additionally, risks such as a challenging business environment, the urgency of customer renewals, and the potential decline in larger customer accounts contribute to the cautious stance.
Furthermore, the report considers the annual net retention rate, which has shown a downward trend, and potential issues in penetrating international markets. Legal matters that move slowly yet represent material risks are also factored into the Hold rating. Despite ZoomInfo’s introduction of a new generative AI tool, the overall assessment suggests that the current valuation appropriately reflects the company’s slower projected growth rate compared to its peers, leading to the conclusion that the stock is fairly valued at present.
According to TipRanks, Walravens is an analyst with an average return of -8.1% and a 40.16% success rate. Walravens covers the Technology sector, focusing on stocks such as Vertex, Sprinklr, and Workday.
In another report released on February 1, Morgan Stanley also downgraded the stock to a Hold with a $20.00 price target.
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ZoomInfo Technologies (ZI) Company Description:
ZoomInfo Technologies Inc provides a cloud-based platform for sales and marketing teams. It provides information on the organizations and professionals of the target company. The services provided are contact & company search, buyer intent, social selling, web research, website visitor tracking, lead enrichment, database management, campaign optimization, webform optimizations, and others. Geographically, the company has its presence across the United States.
Read More on ZI:
- Amgen downgraded, Enphase upgraded: Wall Street’s top analyst calls
- ZoomInfo initiated with a Buy at Jefferies
- ZoomInfo Technologies put volume heavy and directionally bearish
- Qualcomm downgraded, Cigna upgraded: Wall Street’s top analyst calls
- ZoomInfo downgraded to Equal Weight from Overweight at Morgan Stanley
