This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPEA60168_M.jpgMorgan Stanley analysts declared “its time to get back in” on ZI, with the firm seeing early signs of stabilization in the software layoff environment, suggesting a “trough in FY23 & opportunity to reaccelerate growth in FY24.”
“Longer-term, our checks remain constructive of ZoomInfo’s portfolio enabling efficiency in B2B sales teams, which we expect to be of increasing priority as companies look to make (now smaller) sales teams more productive to support growth initiatives,” wrote analysts, who have an Overweight rating and $31 price target on the stock.
At Needham & Company, the newly established Buy rating on ZI was accompanied by a $35 per share price target. Analysts stated that “refilling the funnel sets the next stage of growth.”
“We view the current valuation an attractive entry point for investors who are willing to wait for a recovery in broader demand trends for the company’s solutions,” said analysts. “We see two key items that can accelerate growth in the near term: 1) sales of advanced functionality, i.e. modules not related to company and contact database information, and 2) a broadening of vertical exposure beyond software and business services, which is 66% of total revenue.”