ZoomInfo price target raised to $25 from $22 at JPMorgan

JPMorgan raised the firm’s price target on ZoomInfo to $25 from $22 and keeps an Overweight rating on the shares. The company’s Q4 results show ongoing signs of modest deceleration in the core business as sluggishness in the demand backdrop for seat-based, front-office software-as-a-service continues, particularly within the software vertical, the analyst tells investors in a research note. The firm believes the positive reaction in the shares post-results largely reflects the company’s ability to clear a low Q4 bar, provide first-blush 2024 revenue guidance that implies a relatively conservative 2.5% growth glide path for the year, and a slightly better tone around new deal close rates and customer win-backs.