ZoomInfo Technologies' Revenue Decline Moderates, Billings Stable, RBC Says

MT Newswires Live05-13

ZoomInfo Technologies' (ZI, GTM) Q1 revenue declined from the previous year, but the pace of drop has moderated, and billings were flat, RBC Capital Markets said in a note emailed Tuesday.

The company, which began trading under the ticker GTM Tuesday, saw Q1 growth of 3% in its up-market segment, which now makes up 71% of the business, according to the note.

"Management indicated Copilot continued to gain traction in the quarter, attracting new customers while driving an uplift on a per-seat basis from migrations," the firm said.

RBC said the guidance revision for ZoomInfo's fiscal year 2025 revenue and earnings per share is conservative due to macroeconomic uncertainty but prudent.

The firm maintained its underperform rating on the company's stock with a $6 price target.

Price: 10.31, Change: +0.96, Percent Change: +10.27

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