Why Are ZoomInfo (ZI) Shares Soaring Today

Anthony Lee /
2023/05/02 9:30 am EDT

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.

Is now the time to buy ZoomInfo? Access our full analysis of the earnings results here, it's free.