ZoomInfo Technologies To $65? These Analysts Cut Price Targets On ZoomInfo After Q3 Results

ZoomInfo Technologies Inc. ZI reported Also check this out: better-than-expected Q3 results . and raised guidance.

ZoomInfo posted quarterly earnings of $0.24 per share, exceeding market estimates of $0.20 per share. The company’s quarterly sales came in at $287.60 million, versus expectations of $278.48 million.

The company boosted FY22 earnings guidance from $0.78-$0.80 per share to $0.83-$0.84 per share. The company raised sales forecast from $1.08 billion-$1.09 billion to $1.094 billion -$1.096 billion.

ZoomInfo shares dipped 20.7% to $34.50 in pre-market trading.

These analysts made changes to their price targets on ZoomInfo after the company released quarterly results.

• Piper Sandler cut price target on ZoomInfo from $54 to $50. Piper Sandler analyst Brent Bracelin maintained an Overweight rating on the stock.
• Deutsche Bank lowered ZoomInfo price target from $75 to $60. Deutsche Bank analyst Brad Zelnick maintained a Buy rating on the stock.
• UBS cut ZoomInfo price target from $53 to $48. UBS analyst Taylor McGinnis maintained the stock with a Buy.
• Raymond James lowered the price target on the stock from $65 to $41. Raymond James analyst Brian Peterson maintained the stock with an Outperform.
• Credit Suisse slashed ZoomInfo price target from $80 to $65. Credit Suisse analyst Phil Winslow maintained an Outperform rating on the stock.
• Mizuho cut ZoomInfo’s price target from $65 to $50. Mizuho analyst Siti Panigrahi maintained the stock with a Buy.
• B of A Securities reduced price target on Amazon from $64 to $55. B of A Securities analyst Koji Ikeda maintained the stock with a Buy.
• Barclays cut ZoomInfo’s price target from $54 to $46. Barclays analyst Raimo Lenschow maintained the stock with an Overweight rating.
• Wells Fargo reduced ZoomInfo price target from $70 to $60. Wells Fargo analyst Michael Turrin maintained an Overweight rating on the stock.
• Canaccord Genuity lowered price target on the stock from $56 to $48. Canaccord Genuity analyst David Hynes maintained ZoomInfo with a Buy.