ZoomInfo Technologies, Inc. (NASDAQ: ZI) has reported excellent results for the first quarter of 2022. Adjusted EPS came in at $0.18, higher than the year-ago figure of $0.13 and the Street’s estimate of $0.15.
Revenue increased 58% year-over-year to $241.7 million, exceeding analysts’ expectations of $227.53 million.
Adjusted operating income rose 45% to $95.7 million and adjusted operating income margins stood at 39%.
The CEO of ZoomInfo, Henry Schuck, said, “Customers are embracing the ZoomInfo RevOS (revenue operating system) platform, with more companies using the data, insights, automation and workflows to grow their business and efficiently go-to-market.”
Outlook
Along with the first-quarter results, the company provided guidance for the second quarter and raised the outlook for full-year 2022.
It expects GAAP revenue to range from $253 million to $255 million in the second quarter, versus the consensus estimate of $242.18 million. Adjusted EPS is projected to lie between $0.17 and $0.18, compared to the Street’s estimate of $0.17.
For 2022, ZoomInfo anticipates GAAP revenue to be around $1.06 billion to $1.07 billion, compared to the earlier guidance range of $1.01 billion to $1.02 billion.
It also expects adjusted EPS to range from $0.75 to $0.77, higher than the previous outlook of $0.71 to $0.73.
Analyst consensus estimates for revenue and adjusted EPS stand at $1.02 billion and $0.71, respectively.
About ZoomInfo
Based in Washington, ZoomInfo offers a cloud-based platform for sales and marketing teams. It provides information on the organizations and professionals of the target company.
Its services include contact & company search, buyer intent, social selling, web research, website visitor tracking, lead enrichment, database management, campaign optimization, and webform optimizations, among others.
Price Targets
Based on seven Buys and one Hold, ZoomInfo has a Strong Buy consensus rating. ZI’s average price target of $72.57 implies 47.5% upside potential from current levels. Shares have lost 29.6% over the past six months.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into ZoomInfo’s first-quarter performance.
According to the tool, ZoomInfo’s website traffic registered an 18.1% rise in global visits in March compared to February. Moreover, year-to-date website traffic has increased by 3.3% against the same period last year.
The uptrend in the company’s website visits supports the year-over-year rise in its revenue and earnings. This shows that TipRanks’ website traffic tool helps in making reliable predictions about a company’s results.
Learn more about the Website Traffic tool in this video by Youtube sensation Tom Nash.
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