What's Going On With ZoomInfo Technologies Stock?
Portfolio Pulse from Erica Kollmann
ZoomInfo Technologies Inc. (NASDAQ:ZI) reported Q3 earnings per share of 26 cents, in line with estimates, and revenue of $313.8 million, beating the consensus estimate of $311.751 million. However, several analysts lowered their price targets on the company, leading to a drop in the stock price. The stock is down 14.4% at $13.28.
October 31, 2023 | 5:13 pm
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ZoomInfo's stock price dropped despite beating revenue estimates for Q3, as several analysts lowered their price targets on the company.
ZoomInfo reported Q3 earnings in line with estimates and even beat revenue estimates. However, the lowering of price targets by several analysts led to a decrease in the stock price. This shows that the market is reacting more to the analysts' outlook than the company's recent performance.
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RELEVANCE 100