ZoomInfo price target raised to $27 from $25 at DA Davidson

DA Davidson raised the firm’s price target on ZoomInfo to $27 from $25 and keeps a Buy rating on the shares after its Q4 earnings beat and guidance. The FY24 outlook pointed to Q1 being the trough of down-sell pressure and customer churn, and while the software vertical continues to weight on results, non-tech verticals were an area of strength growing in the mid-teens, which should provide incremental opportunities and partially offset negative net revenue retention trends, the analyst tells investors in a research note.