UPDATE: Wolfe Research Starts ZoomInfo Technologies (ZI) at Outperform
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Wolfe Research analyst Alex Zukin initiates coverage on ZoomInfo Technologies (NASDAQ: ZI) with a Outperform rating and a price target of $60.00.
The analyst comments "We see a $1B+ incremental upsell opportunity within the enterprise base on seat count growth as well as a significant opportunity selling new products such as Engage, Recruiting & Marketing. In addition, we see the company continuing to expand its international presence where it remains early innings from both a market opportunity and competition standpoint. Our upside model calls for subscription revenues to accelerate to +46% Y/Y in FY21, (+8% upside vs. consensus estimates) and 43% in FY22 or 20% upside vs. consensus."
Shares of ZoomInfo Technologies closed at $49.10 yesterday.
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