ZoomInfo downgraded to Neutral from Buy at UBS

UBS analyst Taylor McGinnis downgraded ZoomInfo to Neutral from Buy with a price target of $33, down from $34. The analyst believes the company’s fiscal 2023 guidance may not be viewed as overly conservative if new logo activity deteriorates. Given the potential risks to the outlook combined with a belief that share catalysts are likely skewed to the second half of 2023, ZoomInfo could be range-bound in the near-term, the analyst tells investors in a research note.