ZoomInfo price target lowered to $21 from $28 at Wells Fargo

Wells Fargo lowered the firm’s price target on ZoomInfo to $21 from $28 and keeps an Overweight rating on the shares. ZoomInfo hit Q1, but reduced 2024 guide on inc SMB headwinds, the firm notes. Wells acknowledges frustration given inconsistency in framing targets but still assigns ZoomInfo a higher probability of eventually bouncing back than “other post-COVID software left behinds.”