DexCom earnings beat by $0.03, revenue topped estimates
Kirk Norman Brown, a significant shareholder of ZoomInfo Technologies Inc. (NASDAQ:ZI), recently sold 700 shares of the company’s common stock. The shares were sold at a price of $12.00 each, amounting to a total transaction value of $8,400. The transaction comes as ZoomInfo’s stock has shown strong momentum, posting a 21% gain over the past week and trading near $11.77, according to InvestingPro data. Following this sale, Brown holds 7,615,914 shares directly. Additionally, Brown has an indirect ownership stake in 7,438,247 shares through DO Holdings (WA) LLC, a company substantially owned by Brown and Henry Schuck. The transaction was executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell shares. While this insider sale occurred, InvestingPro analysis reveals management has been actively buying back shares, and the company maintains impressive gross profit margins of 88%. Get deeper insights into insider trading patterns and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, ZoomInfo Technologies reported strong financial results for the fourth quarter of 2024, with earnings per share (EPS) of $0.26, surpassing the forecasted $0.23. The company’s revenue for the quarter reached $309.1 million, exceeding expectations and marking a 3.9% increase over projections. This performance has been attributed to the company’s strategic focus on its upmarket segment and the successful adoption of new products like Copilot and Operations OS. Analyst firms have taken note of these developments, with Scotiabank (TSX:BNS) raising its price target for ZoomInfo to $11 while maintaining a Sector Perform rating, and Stifel increasing its target to $14 with a Buy rating. Needham also maintained a Buy rating on the stock, setting a price target of $15.
Meanwhile, ZipRecruiter faced a downgrade in its outlook following its fourth-quarter earnings report, which showed quarterly revenue of $111 million and a full-year net loss of $12.9 million. Barclays (LON:BARC) downgraded ZipRecruiter from Overweight to Equalweight, reducing the price target from $10 to $6, while Goldman Sachs lowered its target from $9 to $8, maintaining a Neutral rating. Despite these challenges, ZipRecruiter’s CEO expressed cautious optimism for future revenue trends, citing improvements in their marketplace and strategic initiatives. These recent developments reflect the dynamic nature of the market and the varying fortunes of companies within the tech sector.
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