ZoomInfo hits new depths after Q3 results, wave of analyst PT cuts

ZoomInfo Technologies

31/10/2023 20:52

** Shares of ZoomInfo Technologies  ZI.O  fell by nearly 18%
to $12.78, an all-time low, on Tues after multiple analysts
slashed PTs following IT services firm's Q3 results 
    ** Stock made its biggest daily percent drop since Aug 1,
and closed down 16.4% at $12.96
    ** Late Mon, ZI reported revenue rose 9% to $313.8 million
vs avg analyst estimate of $311.75 million, per LSEG
    ** Adj EPS of 26 cents higher than avg analyst estimate of
24 cents, per LSEG data
    ** ZI forecast Q4 revenue of between $309-$312 million
compared to estimate of $310.9 million
    ** Co said expects adj EPS of 24-25 cents vs estimate of 25
cents, per LSEG data
    ** At least 14 analysts cut PTs after the results
    ** Current median PT of 21 analysts covering the stock is
$20, down from $26 in prior quarter
    ** With today's move, ZI stock down 57% YTD

 (Reporting by Chibuike Oguh in New York)