After attending the company's virtual investor day event, analysts shared their positives on ZoomInfo Technologies Inc (NASDAQ: ZI).
Raymond James analyst Brian Peterson reiterated Outperform rating on ZoomInfo. The event provided incremental perspective on the company's broader platform strategy, go-to-market, and privacy efforts.
As the company's broader platform strategy began to take hold, Peterson grew increasingly confident in ZoomInfo's long-term growth prospects.
Barclays analyst Raimo Lenschow saw positive in addressing two key investor concerns around privacy and the durability of profitable growth. Lenschow likes the ZoomInfo story and its unique market position and financial profile and hence remain Overweight with a price target of $64.
Credit Suisse analyst Phil Winslow had an Outperform rating with a price target of $100.
ZoomInfo's key takeaways from the event were its accelerated path to a $2 billion run rate, durable margins, and multiple ways to win wallet share, supporting his positive thesis on the stock.
Mizuho analyst Siti Panigrahi reiterated a Buy with a price target of $65 given expected high top-line growth with a 40% margin, strong cash flow, and platform evolution.
Panigrahi became increasingly confident in the company's evolution from a data provider to a comprehensive go-to-market software platform, which has expanded its TAM to $100 billion from $24 billion at IPO.
Panigrahi expects ZoomInfo to continue penetrating the enterprise with a highly-efficient sales org and deploying more of its RevOS platform.
Wells Fargo analyst Michael Turrin reiterated Overweight with a price target of $70.
The recent events related to the work-from-home shift have helped further enhance ZoomInfo's value proposition, enabling sales and marketing teams to continue driving lead generation and sales prospecting efforts by leveraging its robust data platform for leads.
He saw that the above tailwind is likely to persist for both the near and intermediate-term, which should help shore up investor confidence in the company's ability to execute on a multi-year journey of 30+% revenue growth.
Price Action: ZI shares traded lower by 2.70% at $41.38 on the last check Friday.
