Piper Sandler Downgrades ZoomInfo Technologies (ZI) to Neutral

Piper Sandler analyst Brent Bracelin downgraded ZoomInfo Technologies (NASDAQ: ZI) from Overweight to Neutral with a price target of $15.00 (from $24.00).

The analyst comments "Our patience has worn thin in waiting for a fundamental recovery at ZI on further erosion across the cohort of SMB and mid-market customers that has been spotty for the past two years but is now showing further signs of another leg down. While it pains us to lower our rating near a fundamental trough (pushed from 1H into 2H), there are just too many questions on the timing and magnitude of a recovery against a challenging macro backdrop coupled with AI sales productivity concerns and SMB pricing pressures tempering growth for a seat-based business model. We lower to Neutral and reduce our PT to $15. That said, potential downside risk after the 17% AMC sell-off below $14 also appears limited with the backstop of $440M+ in potential FCF power and the $500M+ buy-back."

For an analyst ratings summary and ratings history on ZoomInfo Technologies click here. For more ratings news on ZoomInfo Technologies click here.

Shares of ZoomInfo Technologies closed at $16.02 yesterday.

You May Also Be Interested In

• Natera (NTRA) PT Raised to $270 at BTIG
• Constellation Brands (STZ) PT Lowered to $157 at Jefferies
• Craig-Hallum Upgrades Backblaze Inc (BLZE) to Buy