ZoomInfo downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded ZoomInfo to Sector Perform from Outperform with a price target of $28, down from $30. With the shares up 40% off the May lows, now is the right time to trim exposure, the analyst tells investors in a research note. RBC’s channel checks indicate intensifying competition for ZoomInfo and the company faces potential risks to its core value proposition from generative artificial intelligence, says the firm. It also sees an overhang from data privacy concerns long-term.