ZoomInfo price target lowered to $32 from $40 at Credit Suisse

Credit Suisse lowered the firm’s price target on ZoomInfo to $32 from $40 and keeps an Outperform rating on the shares. The firm notes results were better than feared, with Q1 revenue and profitability as well as Q2/2023 guidance in line with consensus despite continued economic pressure on deal dynamics. Credit Suisse is "encouraged" sales efficiency is "beginning to stabilize" and management expects a sequential acceleration through 2023. Similarly, Credit Suisse remains bullish on ZoomInfo’s product positioning as more customers transition from cutting costs toward optimizing their GTM infrastructure.