ZoomInfo Technologies Stock Plunges After Q1 Earnings: What You Need To Know
Portfolio Pulse from Vaishali Prayag
ZoomInfo Technologies Inc. (NYSE:ZI) reported Q1 2024 earnings with an EPS of 26 cents, beating estimates by 13.04%, and revenue of $310.1 million, slightly above expectations. Despite this, the company's Q2 and full-year guidance fell short of analyst predictions, leading to a significant drop in its stock price. Analyst firms including Wells Fargo, Needham, UBS, Stifel, Piper Sandler, Mizuho, and Goldman Sachs adjusted their price targets, with some downgrading the stock.
May 08, 2024 | 10:03 pm
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ZoomInfo Technologies exceeded Q1 2024 EPS and revenue estimates but provided weaker Q2 and full-year guidance, leading to a sharp 24.2% drop in its stock price.
Despite surpassing Q1 2024 earnings and revenue expectations, ZoomInfo's stock price plummeted due to its lower-than-expected guidance for Q2 and the full year. This indicates investor concerns over future profitability and growth, significantly impacting the stock's short-term performance.
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