ZoomInfo price target lowered to $23 from $28 at BofA

BofA lowered the firm’s price target on ZoomInfo to $23 from $28 and keeps a Neutral rating on the shares. The firm is basing its price target on a lower multiple following checks suggesting the demand environment remains sluggish. While a slight beat-and-raise can drive shares higher given low sentiment, the firm sees few catalysts that can drive meaningful multiple expansion, the analyst tells investors in a Q3 preview note.