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VANCOUVER, Wash. - ZoomInfo (NASDAQ:GTM), a $3.4 billion market cap company currently trading below its InvestingPro Fair Value, has officially opened its new office at Terminal One, a historic port site on Vancouver’s waterfront, according to a company press release.
The Go-To-Market Intelligence Platform provider, which maintains impressive gross profit margins of 88% and generates annual revenue of $1.2 billion, is the first business to move into the newly developed 10-acre waterfront space. The office features riverfront views and includes amenities such as deck space, a fitness center, secure parking, and an 80+ seat conference center. According to InvestingPro, analysts have recently revised their earnings expectations upward, suggesting strong growth potential.
"We know the power of being together in person, and we’re confident that this new office at the Port of Vancouver is a place where our team will enjoy engaging with our clients and building our team," said Henry Schuck, Founder and CEO of ZoomInfo. Discover 8 more exclusive insights about ZoomInfo’s financial outlook with a subscription to InvestingPro.
Terminal One, located in the heart of the Vancouver Waterfront, also includes a hotel, public trails, and a marketplace. The development represents a public-private partnership effort to revitalize the historic port area.
The new location will serve as a strategic hub for ZoomInfo’s engineering, product, and go-to-market teams. As part of the opening, the company is encouraging employees to explore local retail shops and restaurants in the mixed-use development.
ZoomInfo, which has operated in Vancouver for 18 years, provides data and intelligence solutions to more than 35,000 companies worldwide. The company stated it plans to continue building its future in Vancouver, where it was founded and scaled its operations.
In other recent news, ZoomInfo Technologies has announced several developments that are of interest to investors. The company recently revealed plans for a workforce reduction, cutting about 6% of its staff to focus on more profitable upmarket segments. This strategic move aims to enhance growth and efficiency by reallocating resources to areas with higher financial returns. Stifel analysts have maintained a Buy rating with a $14.00 price target, expressing confidence in ZoomInfo’s strategic direction. Additionally, Jefferies also reaffirmed a Buy rating with a $15.00 price target, following ZoomInfo’s first-quarter results, which exceeded expectations due to strong sales from enterprise and mid-market customers.
In a strategic partnership, ZoomInfo has teamed up with Five by Five Data to enhance its B2B data offerings, which is expected to improve data accuracy and reduce decay. DA Davidson raised the price target to $10.00 from $8.00 while maintaining a Neutral rating, citing strong performance but also noting challenges in the downmarket segment. Meanwhile, KeyBanc Capital Markets reiterated an Underweight rating with a $7.00 price target, highlighting that ZoomInfo’s recent results fell short of broader software sector expectations. These developments reflect ZoomInfo’s ongoing efforts to navigate market challenges and capitalize on strategic opportunities.
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