ZoomInfo Technologies Inc. (GTM) saw its stock plummet by 5.26% in pre-market trading on Tuesday, as multiple analysts maintained or issued bearish ratings on the company. The sharp decline comes amid a flurry of analyst reports that paint a cautious picture for the data intelligence platform provider.
KeyBanc analyst Jackson Ader reiterated a Sell rating on ZoomInfo with a price target of $9.00. Similarly, Goldman Sachs analyst Kash Rangan maintained a Sell rating with a slightly higher price target of $9.40. RBC raised its price target from $6 to $7 but kept an Underperform rating, signaling continued skepticism about the company's near-term prospects.
While some firms took a more neutral stance, with Piper Sandler maintaining a Neutral rating and DA Davidson assuming coverage with a Neutral rating and an $11 price target, the overall sentiment remains bearish. According to FactSet, the average analyst rating for ZoomInfo is now "hold," with a mean price target of $11.65. This confluence of lukewarm to negative analyst opinions appears to be driving investor sentiment, resulting in the significant pre-market sell-off.
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