The stock of ZoomInfo Technologies Inc. (NASDAQ:ZI) is now priced at $38.82 and the shares are 1.61 points up or 4.33% higher compared to its previous closing price of $37.21. The stock had 2.836 million contracts set over the past session. ZI shares’ daily volume is compared to its average trading volume at 3.322 million shares. However, it has a float of 51.99 million and although its performance was 4.81% over the week, it’s one to watch. Analysts have given the ZI stock a yearly average price target of $53.79 per share. It means the stock’s upside potential is 38.56% with the ZI share price recently placing at $37.3 to $39.72. However, some brokerage firms have priced the stock below the average, including one that has called $45.
The shorts are climbing into the ZoomInfo Technologies Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ZI shares have risen. Short interest in the stock represents just 11.08% of its float, but the volume has raised by 1141605. The volume of shorted shares rised to 5.76 million from 4.618 million shares over the last two weeks. The average intraday trading volume has been 2.14 million shares, which means that days to cover moved to roughly 2.69145.
Looking at current readings, ZoomInfo Technologies Inc.’s two-week RSI is 45.82. This suggests that the stock is neutral at the moment and that ZI shares’ price movement remains stable. The stochastic readings are equally revealing at 38.05% meaning the ZI share price is currently in neutral territory.
The technical chart shows that the ZI stock will likely settle at between $39.93 and $41.03 per share. However, if the stock dips below $37.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $36.19.
Currently, the stock is trading in the green of MACD, with a reading of 0.16. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ZI a rating of Hold in their intiating review released on June 30. Wells Fargo analysts see the stock as a Equal Weight with a target price of $55 in a flash note released to investors on June 29 initiating covering the stock. UBS analysts see the stock as Neutral when the analysts initiated the share price coverage on June 29, placing it at $55.
The average rating for the ZI equity is 2.44 and is currently gathering a bullish momentum. Of 16 analysts tracking ZoomInfo Technologies Inc. polled by Reuters, 9 rated ZI as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ZI stock price is 87.04X ahead of its 12-month Consensus earnings per share estimates.