Wells Fargo analyst Michael Turrin lowered the firm’s price target on ZoomInfo to $28 from $34 and keeps an Overweight rating on the shares. The firm notes ZoomInfo’s Q2 revenue miss was driven by continued headwinds from tech sales head reductions of the past year. Wells sees potential for a turnaround as macro impacts subside given lowered estimates plus lagging performance, but acknowledges the timeline now likely pushes into 2024.
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