ZoomInfo price target lowered to $34 from $40 at DA Davidson

DA Davidson analyst Gil Luria lowered the firm’s price target on ZoomInfo to $34 from $40 but keeps a Buy rating on the shares. The company’s Q2 results and disappointing guidance were negatively impacted by a further worsening spending environment, but the firm maintains that the current price levels represent a value investment opportunity within software for a high quality, global market leader in B2B intelligence with a favorable profitability profile, the analyst tells investors in a research note. ZoomInfo’s strong competitive moat and efficiency are the company’s “underappreciated attributes”, the firm added.