JPMorgan Upgrades ZoomInfo Technologies (ZI) to Overweight
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JPMorgan analyst Mark Murphy upgraded ZoomInfo Technologies (NASDAQ: ZI) from Neutral to Overweight with a price target of $50.00.
The analyst comments "ZoomInfo is the number one cloud-based intelligent go-to-market platform for sales and marketing professionals to better understand customers and prospects. Through its contributory network of customers ZoomInfo captures ~50M contact record events daily data. It utilizes data scientists, a team of research analysts, artificial intelligence, and machine learning to add to and improve its database of 14M companies and 120M professionals. ZoomInfo guarantees the of its database, which its customers leverage to generate high-quality leads and drive revenue. ZoomInfo a best-in-class financial profile fueled by an LTV/CAC exceeding 10x, a rapid payback period, expanding net-dollar retention, and a large TAM roughly comparable to the size of the sales force and marketing automation markets. We believe this combination of exposure to healthy end markets, rapid revenue growth and an at-scale financial profile make ZoomInfo a unique asset among software companies. Our Dec PT of $50 is based on ~81x EV/uFCF for CY21E, which is at 37% premium to its core comparable given the higher growth rate and the much higher uFCF margins for ZoomInfo, giving it a Growth plus Margin rating that is ~ 30% higher than the group."
Shares of ZoomInfo Technologies closed at $31.11 yesterday.
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