5 Best Tech Stocks To Buy On the Dip

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1. ZoomInfo Technologies Inc. (NASDAQ:ZI)

Number of Hedge Fund Holders: 44

Decline in Share Price YTD: 37% 

ZoomInfo Technologies Inc. (NASDAQ:ZI) owns and runs a market intelligence platform. On December 1, investment advisory Barclays maintained an Overweight rating on ZoomInfo Technologies Inc. (NASDAQ:ZI) stock and lowered the price target to $18 from $19. 

At the end of the third quarter of 2023, 44 hedge funds in the database of Insider Monkey held stakes worth $808 million in ZoomInfo Technologies Inc. (NASDAQ:ZI), up from 42 in the preceding quarter worth $1 billion. 

In its Q2 2023 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and ZoomInfo Technologies Inc. (NASDAQ:ZI) was one of them. Here is what the fund said:

“ZoomInfo Technologies Inc. (NASDAQ:ZI) provides go-to-market business intelligence software. We took advantage of continued weakness in ZoomInfo shares to rebuild our position at attractive prices following tax-loss sales earlier in the year. ZoomInfo is a highly profitable and cash-generative business with the most comprehensive platform of software and data to improve the go-to-market efforts of its customers, not to mention new products in the marketing and talent-acquisition verticals. When the macro headwinds abate, we believe ZoomInfo will accelerate growth as it continues to penetrate its $70 billion-plus total addressable market.”

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