Mizuho analyst Siti Panigrahi lowered the firm’s price target on ZoomInfo to $30 from $36 and keeps a Buy rating on the shares. The company reported “disappointing” Q2 results, with a slight revenue miss during the quarter and softer than expected Q3 guidance, the analyst tells investors in a research note. However, with the Q3 and implied Q4 revenue guidance suggesting flat sequential growth through year-end, the firm believes ZoomInfo’s outlook “is now fairly de-risked,” positioning the company to beat and raise if the software segment stabilizes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ZI:
- ZoomInfo Technologies (NASDAQ:ZI) Plunges on Deutsche Bank Downgrade
- ZoomInfo price target lowered to $25 from $34 at Barclays
- ZoomInfo downgraded to Hold from Buy at Deutsche Bank
- ZoomInfo Technologies (NASDAQ:ZI) Craters 20% on Soft Guidance
- ZoomInfo falls 20% to $20.29 after Q2 results, FY23 revenue guidance cut