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The rapid growth of high-flying tech stocks fueled by advances in artificial intelligence (AI) has led to an ongoing debate: Do the recent gains constitute a temporary bubble or a new sustainable trend? Critics of the current valuations point to similarities with the unsustainable overexuberance of the high-flying tech stock of the late 1990s dot-com boom.
ZoomInfo beat expectations on revenue and earnings for the fourth quarter of 2023. The company remains solidly cash-flow positive and recently introduced a new generative AI solution for clients.
The provider of databases of customer contact information topped quarterly earnings and revenue estimates.
Shares in ZoomInfo Technologies (ZI) moved sharply higher ahead of Tuesday's opening bell after the marketing intelligence software maker posted quarterly results that came in ahead of Wall Street estimates amid a growing cash pile.
ZoomInfo Technologies Inc. (ZI) Q4 2023 Earnings Call Transcript
ZoomInfo (ZI) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.26 per share a year ago.
ZoomInfo (ZI) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Bank of America raised its rating and price target for ZoomInfo stock. Analyst Koji Ikeda called it a "best of breed" name that trades at a 50% discount to software peers.
ZoomInfo had a rough 2023, but its fortunes are turning as Artificial Intelligence technology is driving a new business line for them. Data will be the fuel for AI, and companies with unique and valuable datasets will become more valuable. ZoomInfo is a strong buy as its unparalleled B2B contact database, will benefit from the demand for high-quality data and AI-driven marketing.
ZoomInfo's operations have grown more robust, but its share price has decreased. This disconnect between the company's health and stock price could be an opportunity.