Shares of ZoomInfo Technologies Inc (NASDAQ:ZI) continued to tank on Wednesday, after having lost more than 21% in the premarket session.
The company reported results amid an exciting earnings season. Here are some key analyst takeaways.
Goldman Sachs analyst Kash Rangan downgraded the rating from Neutral to sell, while cutting the price target from $19.50 to $12.00.
Stifel analyst Parker Lane maintained a Buy rating, while reducing the price target from $24 to $20.
DA Davidson analyst Gil Luria reiterated a Buy rating, while slashing the price target from $27 to $20.
Needham analyst Joshua Reilly reaffirmed a Buy rating and price target of $25.
Check out other analyst stock ratings.
Goldman Sachs: ZoomInfo's first-quarter results indicate continued macro challenges and execution hurdles, and there is "increased lack of visibility around an inflection,” Rangan said in a note. He added that the company's net-new revenue continues to contract and cRPO growth is waning.
"With 4Q and 1Q being large renewal quarters for multi-year enterprise deals and SMB, we note that NRR was pressured as seat contraction was driven by headcount reductions over the ...Full story available on Benzinga.com
Related tickers: ZI.
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