ZoomInfo Technologies Surges After Beating Q4 Estimates
Shares of ZoomInfo Technologies jumped as the company exceeded expectations for both revenue and earnings in the fourth quarter. The stock soared 24% to $19.94 in after-hours trading, following a 4.1% increase at Monday’s close. Despite a 13% drop since the start of the year, the Vancouver, Wash.-based company’s strong performance has reinvigorated investor confidence.
ZoomInfo, a provider of contact and business information, reported a 5% increase in revenue to $316.4 million, surpassing analysts’ forecast of $310.6 million. In the same period last year, the company posted a profit of $23.2 million, or 6 cents per share. However, for the quarter ended December 31, ZoomInfo recorded a loss of $5.5 million, or 1 cent per share. Adjusting for certain one-time items, the company reported a profit of 26 cents per share, exceeding both its guidance and the 25 cents per share predicted by analysts.
Looking ahead, ZoomInfo expects revenue to reach $1.26 billion to $1.28 billion by 2024. The company also forecasts an adjusted per-share profit of 99 cents to $1.01, aligning with analysts’ estimates. This positive outlook further contributes to the rising enthusiasm surrounding the stock.
Investors and analysts are closely watching the promising trajectory of ZoomInfo Technologies as it continues to deliver strong financial results, positioning the company for continued growth and success.
Analyst comment
Positive news: ZoomInfo Technologies has surged after beating Q4 estimates, with revenue exceeding forecasts and a strong performance. The stock jumped 24% in after-hours trading, boosting investor confidence. The company expects continued growth and success, further contributing to rising enthusiasm surrounding the stock.
