ZoomInfo Plunge Continues After Results
Shares of ZoomInfo (ZI:US) are trading lower on Tuesday after the tech company reported fourth-quarter results. ZoomInfo reported adjusted earnings per share of $0.26 on revenue of $301.7 million, which compared to the consensus for earnings of $0.22 per share on revenue of $298.85 million.
For the full 2023 year, the company expects to generate between $0.98 and $1.00 in adjusted earnings per share and revenue in the range of $1.275 - $1.285 billion. Guidance was mixed as the analyst consensus for EPS stood at $0.95 on revenue of $1.31 billion.
Shares are under pressure as the difficult macroeconomic environment continues to weigh on results. ZoomInfo reported billings growth of 13% year-over-year, a significant slowdown compared to the reported +28% YoY recorded in the last quarter.
“We are well-positioned to be a durable grower while compounding free cash flow over the long-term,” said Henry Schuck, ZoomInfo Founder, and CEO.
Looking at Capitol Trades as far as Zoominfo is concerned, we see that Congressman Ro Khanna has been an active trader of the stock. Most recently, Rep. Khanna disclosed in December that he was buying some ZI stock in early November while it was hovering around the $30 mark.
Overall, Congressman Khanna made 10 trades involving ZoomInfo shares in 2022, including 7 buy transactions.
Earlier this year, ZoomInfo stock hit a fresh all-time low near the $25 handle. Despite the Nasdaq outperformance, ZoomInfo stock trades in the red year-to-date (YTD). Shares lost over 50% in 2022.
