Why ZoomInfo Technologies Shares Are Falling Today
Portfolio Pulse from Erica Kollmann
ZoomInfo Technologies (NASDAQ:ZI) shares are trading lower after the company issued weak guidance and several analysts lowered their price targets. The company reported its Q2 financial results and cut its anticipated fiscal year 2023 revenue to between $1.225 billion and $1.235 billion, down from between $1.275 billion and $1.285 billion. Analysts from Truist Securities, Stifel, RBC Capital, Goldman Sachs, Bank of America Securities, Mizuho, Wells Fargo, Raymond James, Barclays, Needham, Deutsche Bank, and Piper Sandler have all adjusted their price targets for ZI.
August 04, 2023 | 9:47 am
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ZoomInfo Technologies' shares are trading lower after the company issued weak guidance and several analysts lowered their price targets. The company's revised FY 2023 revenue forecast is lower than previously expected.
ZoomInfo Technologies has issued weak guidance for its FY 2023 revenue, which is a negative signal for investors. This, combined with the fact that several analysts have lowered their price targets for the company, is likely to have a negative impact on the company's stock price in the short term.
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