ZoomInfo Surprises With Q3 Earnings Beat, But Stock Slides As Revenue Growth Lags
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
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Source: Benzinga
Quarterly Performance: ZoomInfo Technologies reported third-quarter revenue of $303.6 million, surpassing estimates, but experienced a 3% year-over-year decline. The company ended the quarter with 1,809 high-value customers and generated significant cash flow.
Future Outlook: For the fourth quarter, ZoomInfo anticipates revenue between $296 million and $299 million, slightly below estimates, while revising its full-year revenue outlook upwards to $1.201 billion – $1.204 billion. However, shares fell 15.1% in premarket trading following the report.
Analyst Views on WCLD
Wall Street analysts forecast WCLD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WCLD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 32.430
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
