BofA analyst Koji Ikeda lowered the firm’s price target on ZoomInfo to $28 from $30 and keeps a Neutral rating on the shares following the company’s “tough” Q2 and management taking a more conservative view for the remainder of the year given that the demand environment worsened in June and they believe that downward pressures on renewal cycles may not abate in the near-term. It will likely take several quarters of consistent execution to drive improving investor sentiment, the analyst contends.
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