ZoomInfo Technologies Inc. (ZI) PT Cut to $12 at RBC
RBC Capital Rishi Jaluria Underperform ZoomInfo Technologies (NASDAQ: ZI) price target of $12.00 (from $14.00)
The analyst comments "ZoomInfo reported a skinny beat and lowered 2024 guidance, leading shares down 17% after-hours. The key incremental takeaway was SMB trends deteriorated, while mid-market/enterprise was stable (but not better). This resulted in declines in days-adj. sequential growth (DASG), billings, cRPO, $100K+ customers, and NRR, while Advanced Functionality growth also slowed meaningfully. While management sounded optimistic on Q2 marking a bottom (guide implies ex-growth) and Copilot being an eventual growth driver, we continue to caution a recovery is likely to be modest (we model 5% growth in 2025 vs. consensus at 9%)."ZoomInfo Technologies Inc. (NASDAQ: ZI)."
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Shares of ZoomInfo Technologies closed at $16.02 yesterday.