ZoomInfo price target raised to $20 from $16 at Truist

Truist raised the firm’s price target on ZoomInfo to $20 from $16 and keeps a Hold rating on the shares. The company reported a “solid” Q4 result with upside to estimates on revenue, and while upsells and retention remain pressured particularly in tech, ZoomInfo saw record new logo activity, strong uptick in winbacks, enterprise solidity, and solid growth in non-tech business, the analyst tells investors in a research note. ZoomInfo shares could still be considered cheap on cash flow basis, even following the afterhours move higher, Truist added.