Canaccord raised the firm’s price target on ZoomInfo (ZI) to $15 from $14 and keeps a Buy rating on the shares. The firm said ZoomInfo’s Q4 results were another step in the right direction. Both revenue and adjusted operating income topped the high-end of guidance, calculated billings grew by 4% (cRPO- based bookings were flat, the first quarter in six without year-over-year declines), and net new customer additions in the firm’s $100K+ cohort grew by 58, which compares to 12 in Q3 and a decline of 49 a year ago.
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Read More on ZI:
- ZoomInfo Technologies: Strategic Shift and Resilience Drive Long-Term Buy Rating
- ZoomInfo Technologies: Strong Q4 Performance and Strategic Positioning Highlight Favorable Investment Opportunity
- Piper Sandler upgrades ZoomInfo to Neutral on early signs of stabilization
- ZoomInfo price target raised to $12 from $11 at Wells Fargo
- ZoomInfo price target raised to $13 from $11 at Barclays
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