Sales intelligence platform ZoomInfo will be reporting results today after the bell. Here's what investors should know.
Last quarter ZoomInfo reported revenues of $222.3 million, up 59.1% year on year, beating analyst revenue expectations by 7.02%. It was a strong quarter for the company, with an exceptional revenue growth and a very optimistic guidance for the next quarter. The company added 202 enterprise customers paying more than $100,000 annually to a total of 1,452.
Is ZoomInfo buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting ZoomInfo's revenue to grow 48.6% year on year to $227.9 million, in line with the 50% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.15 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6.34%.
Looking at ZoomInfo's peers in the sales and marketing software segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Zendesk delivered top-line growth of 30.2% year on year, beating analyst estimates by 0.96% and Qualtrics reported revenues up 40.6% year on year, exceeding estimates by 3.06%. Zendesk traded flat on the results, Qualtrics was up 4.3%. Read our full analysis of Zendesk's results here and Qualtrics's results here.
The whole tech sector has been facing a sell-off since late last year and software stocks have been swept alongside with it, with share price down on average 15.4% over the last month. ZoomInfo is down 20.2% during the same time, and is heading into the earnings with analyst price target of $77.4, compared to share price of $47.8.
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The author has no position in any of the stocks mentioned.