Goldman Sachs analyst Kash Rangan downgraded ZoomInfo to Neutral from Buy with a price target of $17, down from $30, following the company’s “mixed” Q3 report and “soft” forward guidance. The firm acknowledges that a rebound in tech hiring is taking longer than expected and is revising down its growth estimates for calendar 2024 and beyond, noting that it lowering its revenue growth forecast to 4% from 12% in 2024.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ZI: