ZoomInfo downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler downgraded ZoomInfo to Neutral from Overweight with a price target of $15, down from $24. The firm says its “patience has worn thin in waiting for a fundamental recovery” at ZoomInfo on further erosion across the cohort of small business and mid-market customers that has been spotty for the past two years but is now showing further signs of another leg down. There are too many questions on the timing and magnitude of a recovery against a challenging macro backdrop, the analyst tells investors in a research note.