ZoomInfo downgraded to Underweight from Equal Weight at Wells Fargo

Wells Fargo downgraded ZoomInfo (GTM) to Underweight from Equal Weight with a price target of $9, down from $10. The firm recommends investors stay selective through summer in software. However, it ultimately expects another second half of the year rebound across the sector as macro noise dissipates and seasonal buying behavior opens back up. Wells downgraded ZoomInfo to Underweight as it sees fiscal 2025 as another transition year post the 6% workforce cut. The company continues to need to work through write-down headwinds from the small business cohort and find other avenues for growth reacceleration in sales, the analyst tells investors in a research note.