ZoomInfo Technologies Shares Dropped 4% on RBC Capital Downgrade 
<p><a href='https://financialmodelingprep.com/financial-summary/ZI'>ZoomInfo Technologies (NASDAQ:ZI)</a> experienced a decline of more than 4% intra-day today after RBC Capital downgraded the stock from Outperform to Sector Perform and adjusted the price target to $28, down from the previous target of $30.</p>
<p>The decision to downgrade was based on several factors. Firstly, RBC Capital observed increasing competition in the market, which could pose challenges for ZoomInfo. Additionally, there are concerns about potential risks to ZoomInfo's core value proposition due to GenAI, and the company is facing ongoing macroeconomic challenges. Moreover, data privacy concerns are seen as a long-term overhang on the stock.</p>
<p>Although ZoomInfo still offers extensive data, competitors are catching up by providing similar functionality at significantly lower prices. Considering ZoomInfo's relatively high cost, with a list price of over $10,000 per year, it becomes difficult for the company to effectively compete against this combination of factors. Given these circumstances and the stock's recent 40% rise from May lows, RBC Capital analysts believed it was appropriate to trim exposure to ZoomInfo at this time.</p>

NASDAQ:ZI