What's Going On With ZoomInfo Technologies Stock?

ZoomInfo Technologies Inc. (NASDAQ:ZI) shares are trading lower Tuesday. The company reported its third-quarter financial results on Monday.

What To Know:

ZoomInfo Technologies reported quarterly adjusted earnings per share of 26 cents, in line with analysts' estimates and third-quarter revenue of $313.8 million, beating the consensus estimate of $311.751 million.

On Tuesday, several analysts lowered the price targets on ZoomInfo Technologies:

RBC Capital analyst Rishi Jaluria maintained ZoomInfo Technologies with a Sector Perform and lowered the price target from $22 to $16.
Morgan Stanley analyst Elizabeth Porter maintained ZoomInfo Technologies with an Overweight and lowered the price target from $26 to $24.
Piper Sandler analyst Brent Bracelin maintained ZoomInfo Technologies with an Overweight and lowered the price target from $21 to $20.
Mizuho analyst Siti Panigrahi maintained ZoomInfo Technologies with a Buy and lowered the price target from $30 to $23.

Shares of ZI are down on heavy trading volume Tuesday. According to data from Benzinga Pro, more than 9.5 million shares have been traded in the session, compared to the stock's 100-day average of 6.641 million shares.

ZI Price Action: According to Benzinga Pro, ZoomInfo Technologies shares are down 14.4% at $13.28 at the time of publication.

Image: Tumisu from Pixabay

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.