Zoominfo Technologies Inc . (ZI) has reached a new 52-week low, with shares trading at $11.15. This marks a significant downturn for the company, which has seen its stock price steadily decline over the past year. The current price level is a stark contrast to the company's previous performance, highlighting the volatility and unpredictability of the market. Over the past year, Zoominfo Technologies has experienced a substantial decrease in its stock value, with a 1-year change of -55.76%. This downward trend reflects the challenges the company has faced in a rapidly evolving market environment. Despite the current low, investors and market watchers will be keenly observing how the company maneuvers to regain its footing in the coming months.
In other recent news, ZoomInfo Technologies (NASDAQ:ZI) has been subject to multiple revisions in its market outlook by various firms. Stifel has reduced the company's price target to $16 from $20, while maintaining a Buy rating. KeyBanc has also adjusted ZoomInfo's price target, from $20 to $18, while retaining an Overweight rating. Deutsche Bank (ETR:DBKGn) has cut its price target from $20 to $17, maintaining a Hold rating, and Wells Fargo (NYSE:WFC) has reduced its price target from $28 to $21, keeping an Overweight rating.
ZoomInfo has also announced the release of ZoomInfo Copilot, an AI-powered platform that has reportedly doubled sales opportunities for its beta users. The platform integrates AI with ZoomInfo's B2B data to provide users with detailed account overviews and AI-guided recommendations.
These recent developments come as ZoomInfo prepares to reveal its second-quarter financial performance. The company's first-quarter results indicated a balance between stabilization in large customer segments and declining trends among small and medium-sized businesses. ZoomInfo's year-over-year revenue increased by 3% and saw a sequential decline of 2%, primarily due to better enterprise and mid-market renewals, somewhat negated by increasing weaknesses in the small and medium-sized business segment.
InvestingPro Insights
Zoominfo Technologies Inc. (ZI) has certainly faced market headwinds, as evidenced by its latest 52-week low. To provide further perspective, current InvestingPro Data shows a market capitalization of $4.18 billion and a high gross profit margin of 88.96% over the last twelve months as of Q1 2024. The company also boasts a revenue growth of 7.94% during the same period, indicating that despite price fluctuations, the underlying business retains growth potential.
Two InvestingPro Tips highlight that management has been aggressively buying back shares and that net income is expected to grow this year. These actions and projections may signal confidence from the management team in the company's future prospects. Additionally, with liquid assets exceeding short-term obligations, Zoominfo appears to be in a sound financial position to navigate short-term market turbulence.
Investors considering Zoominfo Technologies as a potential addition to their portfolio can access additional insights and tips on the InvestingPro platform. There are 14 additional InvestingPro Tips available, which could provide valuable guidance in assessing the company's outlook. For those interested, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking further expert analysis and data.
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