5 Tech Stocks Gaining Value After Earnings

2. ZoomInfo Technologies Inc. (NASDAQ:ZI)

Number of Hedge Fund Holders: 48

Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) have been trading higher since reporting its second-quarter results on Monday, August 1, 2022. The provider of marketing solutions reported adjusted earnings of 21 cents per share, beating the consensus of 17 cents per share.

Revenue for the quarter soared 54 percent versus last year to $267.1 million, while analysts were expecting ZoomInfo Technologies Inc. (NASDAQ:ZI) to generate revenue of $252.75 million

Besides solid Q2 earnings, ZoomInfo Technologies Inc. (NASDAQ:ZI) also raised its financial outlook for 2022. It expects adjusted earnings of 78 – 80 cents per share on revenue of $1.08 – $1.09 billion for the full year. Earlier, it was looking for adjusted earnings of 75 – 77 cents per share and revenue of $1.06 – $1.07 billion.

Separately, asset management firm Baron Funds also mentioned ZoomInfo Technologies Inc. (NASDAQ:ZI) in its first-quarter 2022 investor letter, stating:

“ZoomInfo Technologies Inc. operates a cloud-based B2B platform that provides sales, marketing, and HR teams with comprehensive business intelligence, enabling shorter sales cycles and higher win rates. While the stock was down 7% over the course of the first quarter, well-timed purchases turned it into a contributor that added 18bps to absolute returns. The company continues to execute well with another positive quarterly earnings surprise and strong forward bookings, with 2021 revenues growing 57% year-over-year, and with 46% free-cash-flow margins. New products are starting to build momentum, and we believe ZoomInfo can become a much larger company over time as it penetrates its $70 billion total addressable market.”