What Happened:
Shares of sales intelligence platform ZoomInfo jumped 5.29% in the after-market session after the company reported first-quarter results that beat analysts' revenue and operating profit estimates. Revenue and operating profit guidance for the next quarter and the full year came in roughly in-line with the Consensus estimates. Overall, full year guidance was maintained, which is a positive in an uncertain macro backdrop. Overall, it was a decent quarter for the company.
What is the market telling us:
ZoomInfo's shares are very volatile and over the last year have had 42 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
ZoomInfo is down 21.2% since the beginning of the year, and at $23.46 per share it is trading 56.6% below its 52-week high of $54.11 from May 2022. Investors who bought $1,000 worth of ZoomInfo's shares at the IPO in June 2020 would now be looking at an investment worth $682.16.
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