ZoomInfo price target raised to $24 from $20 at Stifel

Stifel analyst J. Parker Lane raised the firm’s price target on ZoomInfo to $24 from $20 and keeps a Buy rating on the shares as the company “closed 2023 on a high note.” The company’s record numbers of boomerang customers who left ZoomInfo for a cheaper alternative and returned to ZoomInfo display “the robust nature of the platform,” the analyst tells investors in a post-earnings note. Better days seem to be ahead as signs point towards net revenue retention stabilization moving into the second half, the analyst added.