UPDATE: Goldman Sachs Starts ZoomInfo Technologies (ZI) at Buy
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Goldman Sachs analyst Kash Rangan initiates coverage on ZoomInfo Technologies (NASDAQ: ZI) with a Buy rating and a price target of $65.00.
The analyst comments "We are initiating coverage of ZoomInfo with a Buy rating and a 12-month price target of $65. Our price target is based on an equal blend of DCF, EV/Sales, and EV/FCF. ZoomInfo has built a go-to-market data intelligence platform for optimizing digital selling. The platform provides sales reps with a broad, deep, and highly accurate data set to streamline the lead generation process. The return on investment by customers from using ZoomInfo is tangible and measured in increased sales productivity and revenues. ZoomInfo has built a balanced business model with revenue growth ~40% and operating margins in the mid-40s. Based on a large and early market, we believe ZoomInfo could grow into a multi-billion dollar revenue business."
Shares of ZoomInfo Technologies closed at $48.84 yesterday.
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