ZoomInfo Technologies (ZI) PT Raised to $80 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the price target on ZoomInfo Technologies (NASDAQ: ZI) to $80.00 (from $76.00) on the belief that shares will continue to outperform in 2H21 and FY22.

The analyst reiterated an Overweight rating, stating "We think recent M&A (mainly Chorus.AI) could bring modest revenue upside (albeit inorganic), as we expect immediate synergies and benefit from ZI's robust sales engine, while others(inc Clickagy and Everstring) should drive accelerated adoption into the engagement layer. Our core positive thesis on ZI shares remains intact highlighted by improvements in customer activity, retention, and cross-sell; as well as a product portfolio which extends ZI's core data asset towards an emerging engagement layer, capable of delivering a long(well-balanced) runway of 30+% revenue growth and 40+% uFCF margin for investors."

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