ZoomInfo Technologies Inc. (ZI)

Zoominfo Technologies Stock (ZI) dropped by 16.44% from $15.51 to $12.96 in the trading on Tuesday October 31, 2023. The reason why ZI stock down today include:

• Q3 financial results: Zoominfo reported third-quarter results with its revenue and adjusted operating profit guidance for the next quarter coming in slightly below Wall Street's estimates, but exceeding previous guidance. In addition, new large contract wins slowed during the quarter.
• Macro headwinds: Zoominfo highlighted issues with customer renewals, lower upselling, and difficulties with smaller customer payments, leading to increased write-offs. These challenges are anticipated to persist at least into the first quarter of the fiscal year 2024, affecting revenue growth in the first half of the year.
• Price targets cut: Research firms such as RBC Capital Markets, Morgan Stanley and Mizuho Securities all lowered their price targets on Zoominfo, noting a challenging operating environment.

Zoominfo Technologies Stock (ZI) dropped by 6.30% from $16.99 to $15.92 in the trading on Monday October 23, 2023. The reason why ZI stock down today is due to the lower price target by the analyst. Piper Sandler analyst Brent Bracelin lowered the price target on ZoomInfo Technologies (ZI) to $21.00 from $26.00 while maintaining a Overweight rating. It seemed to weigh on the stock as did the broader market sell-off, causing ZI stock down today.

Zoominfo Technologies' shares fell 26.98% despite Q2 results meeting expectations. The stock was affected by disappointing guidance, with lower revenue forecasts for Q3 and the full year, signaling potential challenges ahead.

https://www.fool.com/investing/2023/08/01/why-zoominfo-technologies-stock-tumbled-today/