ZoomInfo slides as revenue forecasts below estimates

ZoomInfo Technologies

07/02/2023 12:15

** Shares of IT services and consulting firm ZoomInfo
Technologies Inc  ZI.O  slide 12% to $25.29 premarket 
    ** Q1 revenue outlook with midpoint of $300 mln vs Refinitiv
est of $301.22 mln; 2023 revenue midpoint of $1.28 bln vs est
$1.29 bln
    ** Q1 and 2023 EPS midpoint of 22 cents and 99 cents vs est
22 cents and 97 cents, respectively
    ** Q4 revenue of $301.7 mln above est $298.9 mln, EPS of 26
cents above est 22 cents
    ** At least three brokerages cut PTs after results, median
PT at $34; 4 "strong buy", 12 "buy" and 5 "hold" ratings on
stock
    ** Stock, which slumped 53% in 2022, down ~5% YTD vs ~14%
gains in tech-heavy Nasdaq Composite  .IXIC  for the same period
 (Reporting by Ankika Biswas in Bengaluru)
 ((Ankika.Biswas@thomsonreuters.com))