Truist analyst Terry Tillman lowered the firm’s price target on ZoomInfo to $24 from $28 and keeps a Hold rating on the shares. The company’s Q2 results, including revenue and profitability, were slightly below the firm’s model, while its guidance assumes a continued degradation in demand, potentially bottoming in Q4 of this year or Q1 of 2024, the analyst tells investors in a research note. Truist adds however that it is “not as certain” in those projections given the company believed it was out of the woods after Q1.
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