UPDATE: ZoomInfo Technologies (ZI) PT Raised to $75 at Morgan Stanley

Morgan Stanley analyst Stan Zlotsky raised the price target on ZoomInfo Technologies (NASDAQ: ZI) to $75.00 (from $72.00) after Q1 sustained 50% revenue growth and displayed another acceleration in billings to 66% YoY. This led to a very strong full year guidance increase to ~42% growth.

The analyst reiterated an Overweight rating, stating "As B2B sales organizations transition to doing business in the post-pandemic world, we view solutions like ZoomInfo becoming an indispensable part of the retooling. Q1 results once again underscored this thesis, as revenue sustained 50% pace. Billings came in at $192.5M, well ahead of our/consensus estimates of $160.2M/$154.4M. The quarter appears to have been back-end loaded, with management commentary of new customer adds doubling the year-ago quarter, driving the big outperformance on billings and full year revenue guidance midpoint increase of $23M vs $7.3M beat in the quarter."

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