ZoomInfo price target lowered to $20 from $25 at JPMorgan

JPMorgan lowered the firm’s price target on ZoomInfo to $20 from $25 and keeps an Overweight rating on the shares following the Q1 report. Software companies are not hiring as if they see a material recovery, which adversely impacts ZoomInfo, the analyst tells investors in a research note. The firm says the company’s results and guidance are “slightly lackluster,” although the revisions are quite small in magnitude and “convey a feeling that the band-aid is being slowly and painstakingly peeled back in very small increments.”