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* Prop Trading * Stock Prop Trading Firms * Alerts * Webinars * Conferences * Trading Guide * Central Banks * Insights * Ad-Free Version * Webmaster Tools * Broker Blacklist * Sentiments Outlook * Sign out * Latest * Most Popular * Breaking News * Cryptocurrency * Stock Markets * Commodities * Currencies * Economy * Economic Indicators * Politics * World * Company News ⛔ Stop guessing ⛔ Use our free stock screener to find new opportunities fast Try Stock Screener Get 100% ad-free experience ZOOMINFO STOCK FALLS 16% ON WEAK GUIDANCE, CFO TRANSITION; ANALYSTS DOWNGRADE AuthorVahid Karaahmetovic Stock Markets Published 08/05/2024, 04:14 PM Updated 08/06/2024, 04:32 AM ZoomInfo stock falls 16% on weak guidance, CFO transition; Analysts downgrade * * * * View all comments (0)0 © Reuters ZI 8.61% ZoomInfo shares tumbled 16% in premarket trading Tuesday after the company reported second-quarter earnings that missed analyst expectations and provided weaker-than-anticipated guidance. The go-to-market platform provider also announced a leadership change in its finance department. ZoomInfo reported adjusted earnings per share of $0.17 for the second quarter, falling short of the $0.24 analyst consensus. Revenue declined 6% YoY to $291.5 million, below the expected $307.68 million. Despite the challenges, ZoomInfo reported growth in its high-value customer segment, adding 37 customers with annual contract values of $100,000 or more during the quarter. "In the second quarter, we implemented a number of initiatives to position the company for long-term success," said Henry Schuck, ZoomInfo founder and CEO. "Having successfully launched ZoomInfo Copilot, our AI-powered go-to-market platform, we are further accelerating a shift upmarket." Looking ahead, ZoomInfo forecasts third-quarter adjusted EPS of $0.21-$0.22, below the $0.25 consensus. Third-quarter revenue guidance of $298-301 million also missed analyst expectations of $317 million. For the full year 2024, the company projected adjusted EPS of $0.86-$0.88 on revenue of $1.19-1.205 billion, both below consensus estimates. The company also announced that Graham O'Brien, Vice President of FP&A, will become interim Chief Financial Officer on September 6, 2024, as current CFO Cameron Hyzer transitions to an advisory role. Following the report, KeyBanc Capital Markets analysts downgraded ZI stock to Sector Weight from Overweight. "The stock continues to get more attractive, but we can no longer make a clear-eyed fundamental argument for stepping in," analysts said. "The write-downs of revenue due to the collectability issue is one thing, but removing the positive momentum in the up-market aspects of the business (while couched as extra conservatism) makes us nervous that there are more issues ahead for the current pockets of strength." 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Separately, Jefferies analysts noted that "optics of the quarter look bad, and are bad," however, investors "shouldn't throw in the towel." "We expect to see a material negative stock reaction tomorrow but believe investors who sell are likely doing so at or near a bottom," they wrote. Analysts highlighted several "green shoots" from the report, including unchanged firmware Net Revenue Retention (NRR), and strong net new Annual Recurring Revenue (ARR) growth. SHOULD YOU INVEST $1,000 IN ZI RIGHT NOW? Investing.com’s ProPicks are 6 model portfolios that identify the best stocks for investors to buy now. The stocks that made the cut could produce monster returns in the coming years. Is ZI one of them? Unlock ProPicks to find out ZoomInfo stock falls 16% on weak guidance, CFO transition; Analysts downgrade * * * * View all comments (0)0 LATEST COMMENTS Post Comment Guidelines Loading next article… Trade With A Regulated Broker Indices Commodities Bonds Stocks 1D 1W 1M 6M 1Y 5Y Max Created with Highcharts 9.3.312:0018:0008/0806:0038 50039 000 US 30 38,688.30 -75.1 -0.19% US 500 5,191.60 -7.9 -0.15% Dow Jones 38,763.45 -234.21 -0.60% S&P 500 5,199.50 -40.53 -0.77% Nasdaq 16,195.81 -171.05 -1.05% S&P 500 VIX 28.42 +0.57 +2.05% Dollar Index 102.95 -0.048 -0.05% Crude Oil WTI Futures 75.06 -0.17 -0.23% Brent Oil Futures 78.05 -0.28 -0.36% Natural Gas Futures 2.077 -0.035 -1.66% Gold Futures 2,443.00 +10.60 +0.44% Silver Futures 26.895 -0.049 -0.18% Copper Futures 3.952 0.0000 0.00% US Soybeans Futures 1,003.25 -1.75 -0.17% U.S. 10Y 3.923 -0.043 -1.09% U.S. 30Y 4.227 -0.034 -0.80% U.S. 5Y 3.743 -0.052 -1.37% U.S. 3M 5.23 +0.007 +0.13% US 10Y T-Note Futures 113.22 +0.33 +0.29% Euro Bund Futures 134.53 +0.36 +0.27% 10-2 Yield Spread -3.20 +6.00 -65.22% AAPL 209.82 +2.59 +1.25% GOOGL 158.94 +0.65 +0.41% TSLA 191.76 -8.88 -4.43% AMZN 162.77 +0.84 +0.52% NFLX 611.48 +1.91 +0.31% META 488.92 -5.17 -1.05% BAC 37.30 +0.38 +1.03% Most Popular Articles News Analysis US futures, jobless claims, Apple - what's moving markets By Investing.co... 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Aug 07, 2024 4 More News Market Movers Most Active Gainers % Losers % NameLastChg. %Vol. NVDA 98.91-5.12% 411.44M TSLA 191.76-4.43% 71.16M AAPL 209.82+1.25% 63.52M AMZN 162.77+0.52% 48.41M MSFT 398.43-0.30% 20.65M META 488.92-1.05% 20.11M SMCI 492.70-20.14% 18.12M NameLastChg. %Vol. FTNT 69.93+25.30% 23.54M AXON 349.24+18.39% 3.41M VFC 17.60+7.06% 17.42M GPN 99.46+6.92% 3.81M ILMN 121.10+4.07% 4.50M MGM 36.44+2.94% 9.82M HSIC 65.77+2.89% 3.49M NameLastChg. %Vol. SMCI 492.70-20.14% 18.12M ABNB 113.01-13.38% 29.03M CRL 199.96-12.60% 3.95M TECH 70.96-9.51% 2.59M DXCM 69.32-7.88% 10.01M EMR 99.54-7.65% 8.06M ARM 107.09-5.56% 13.23M TRENDING STOCKS NameLastChg. %Vol. NVDA 98.91-5.12% 411.44M SMCI 492.70-20.14% 18.12M TSLA 191.76-4.43% 71.16M DIS 85.96-4.46% 30.58M AAPL 209.82+1.25% 63.52M Show more ProPicks AI AI-powered stock picks with a proven track record to beat the S&P 500. 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