ZoomInfo price target lowered to $11 from $16 at Truist

Truist analyst Terry Tillman lowered the firm’s price target on ZoomInfo to $11 from $16 and keeps a Hold rating on the shares. ZoomInfo’s Q2 appeared solid from an operational perspective, but despite the greenshoots, the company saw a material uptick in SMB writeoffs starting in June, which culminated in a change in accounting policy and a $33M charge in the quarter, the analyst tells investors in a research note. Second half guidance seems de-risked, but Truist remains in wait and see position until there is greater visibility.