ZoomInfo Downgraded Amid Rising Competition And GenAI Concerns: Analyst
Portfolio Pulse from Lekha Gupta
RBC Capital Market analyst Rishi Jaluria has downgraded ZoomInfo Technologies Inc (ZI) to Sector Perform from Outperform, lowering the price target to $28 from $30. The downgrade is due to increasing competition, potential risks from GenAI, macro challenges, and long-term data privacy concerns. The analyst also highlighted that ZoomInfo's data is lacking for early-stage startups, which is becoming more evident with the rise of well-funded GenAI startups.
July 24, 2023 | 5:14 pm
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ZoomInfo has been downgraded by RBC Capital due to increasing competition, potential risks from GenAI, macro challenges, and long-term data privacy concerns. The stock is trading lower by 3.71%.
The downgrade by RBC Capital is a negative signal for investors, indicating potential challenges for ZoomInfo. This includes increasing competition, potential risks from GenAI, macro challenges, and long-term data privacy concerns. These factors are likely to negatively impact the stock price in the short term.
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