Citigroup Downgrades ZoomInfo Technologies: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup downgraded ZoomInfo Technologies (NASDAQ:ZI) from its previous rating to Sell, adjusting the price target from $20.00 to $13.00. Following this downgrade, ZoomInfo's shares dropped 3.53% to $14.77. A further decline to the new target would represent an 11.98% decrease. ZoomInfo provides a cloud-based intelligence platform mainly for sales and marketing teams, with most revenue coming from the U.S.
February 08, 2024 | 5:00 pm
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Citigroup downgraded ZoomInfo Technologies to Sell, reducing the price target from $20.00 to $13.00, causing a 3.53% drop in share price to $14.77.
The downgrade by Citigroup, a major financial institution, directly impacts investor sentiment and ZoomInfo's market valuation. The reduction in the price target and the subsequent share price drop reflect negative market reaction, suggesting a bearish outlook in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100