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ZoomInfo beats earnings but guide down sends shares 12% lower; UBS downgrades

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ZoomInfo beats earnings but guide down sends shares 12% lower; UBS downgrades

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By Senad Karaahmetovic

ZoomInfo Technologies (NASDAQ:ZI) shares are down by nearly 12% after the company offered a weaker-than-expected forecast.

ZoomInfo posted an adjusted Q4 EPS of $0.26 on revenue of $301.7 million, beating the average analyst consensus for earnings of $0.22 on revenue of $298.85M. Revenue soared 36% year-over-year.

For this quarter, the company sees EPS in the range of $0.21-0.22, in line with the consensus for an EPS of 0.22. Revenue is seen at $300M (up or down $1M), below the consensus of $305.72M.

As far as the full year is concerned, the EPS is seen at $0.99 (up or down 1c) on revenue in the range of $1.275-1.285B, which compares to the consensus for earnings of $0.95 on revenue of $1.31B.

JMP analysts commented:

“On the positive side, ZoomInfo has done an impressive job of leveraging its extensive contact and company database, with over 260M contacts and 100M+ company profiles, into the leading sales platform with intelligence, engagement, and orchestration. On the risk side the company faces a more challenging environment as some customers reduce sales budgets, and we worry about privacy issues in litigation like Martinez v. ZoomInfo Technologies.”

Elsewhere, UBS analysts downgraded ZoomInfo stock from Buy to Neutral with a price target of $33.00.

“Though off a depressed 4Q to begin with, the bear argument will likely be that it doesn’t appear overly conservative if new logo activity deteriorates,” they said in a downgrade note.

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