Why ZoomInfo Technologies Stock Plunged by 21% This Week

Motley Fool05-11

Woe betide any publicly traded entity that misses on guidance. The specialty-tech company's second-quarter projections were lower than those of analysts. Stock investors tend to be a picky lot...

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It's all well and good to post quarterly results that beat estimates. However, since most market participants are -- sensibly -- more concerned about the future than the past, if a business's forecasts come in under expectations, it can be punished by Mr. Market.That was the case this week with customer acquisition and management-software specialist ZoomInfo (ZI 1.43%). Guidance perceived as week led to a sell-off of the stock, which according to data compiled by S&P Global Market Intelligence tanked by almost 21% across the five trading days.A pair of beatsOn a positive note, ZoomInfo's trailing first-quarter results revealed that the specialty-tech company managed to grow its revenue (albeit slightly) by 3% to $310 million. Also inching up was non-GAAP (adjusted) net income; this was $100.5 million ($0.26) for the period against the year-ago profit of $99.5 million. Both of those numbers topped the average-analyst estimates, which were just under $309 million for revenue and $0.23 for adjusted-net income. In its earnings release, ZoomInfo indicated that it would lean on the hot tech of the day -- generative artificial intelligence (AI) -- to help push those results higher. CEO Henry Schuck was quoted as saying that \"Our team is innovating on the future of how companies will go-to-market with ZoomInfo Copilot, and we look forward to bringing this GenAI-powered solution to market shortly.\"Second-quarter guidance was weakManagement did publish updated guidance, which was marked by a slight lowering of its full-year estimations. For the entirety of 2024, it's now expecting to earn nearly $1.26 billion to $1.27 billion on the top line, with adjusted-net income landing at $1 to $1.02 per share. The current analyst-consensus estimates fall within both ranges.The story is different with ZoomInfo's current (second) quarter guidance. It was unchanged but weak, at $306 million to $309 million for revenue and $0.23 to $0.24 per share. The collective-analyst estimates are a respective $313 million and $0.25.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434188008"}