ZoomInfo price target raised to $9 from $8 at BofA

BofA raised the firm’s price target on ZoomInfo (GTM) (ZI) to $9 from $8 and keeps an Underperform rating on the shares after the sales enablement software vendor reported “good” Q1 results, including revenue and non-GAAP operating income above Street forecasts. Management has added in extra conservatism to the 2025 guidance given the uncertain macro and while this should further derisk the model, the negative growth trajectory in the second half could be an overhang and shares could underperform front office software peers until revenue growth solidly inflects positively, the analyst tells investors. The firm also noted that ZoomInfo has changed its ticker to “GTM” from “ZI” in conjunction with the Q1 earnings results.