ZoomInfo price target raised to $11 from $8 at Piper Sandler

Piper Sandler raised the firm’s price target on ZoomInfo (ZI) to $11 from $8 and keeps a Neutral rating on the shares. Underneath the fourth straight quarter that revenue has declined on a year-over-year basis, the firm was encouraged by a healthy subcurrent. Upmarket ARR accelerated, albeit slightly, driven by existing customer expansions, pricing tailwinds, and new product crosssells. This was masked by the decision to de-emphasize the down-market swim-lane where competitive alternatives and pricing remains intense against the likes of Apollo, Cognism, and Lusha, Piper notes. That said, the strategy to increase focus on enterprise makes sense where data quality matters more and could better position the company to return to double-digit growth entering 2027, in the firm’s view