Is ZoomInfo Technologies (ZI) A Great Buy?

Baron Funds, an asset management firm, published its “Baron Asset Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A decline of 0.14% was delivered by the fund’s institutional shares for the third quarter of 2021, while the Russell Midcap Growth Index (the “Index”) declined 0.76%, and the S&P 500 Index gained 0.58%. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Baron Asset Fund, in its Q3 2021 investor letter, mentioned ZoomInfo Technologies Inc. (NASDAQ: ZI) and discussed its stance on the firm. ZoomInfo Technologies Inc. is a Vancouver, Washington-based software as a service company with a $35.1 billion market capitalization. ZI delivered a 58.30% return since the beginning of the year, while its 12-month returns are up by 92.85%. The stock closed at $76.35 per share on November 16, 2021.

Here is what Baron Funds has to say about ZoomInfo Technologies Inc. in its Q3 2021 investor letter:

“Favorable stock selection in Communication Services came from ZoomInfo Technologies Inc., a leading go-to-market intelligence platform for sales and marketing teams. We believe that the company’s recent acquisition of Chorus.ai, a conversation intelligence business, dramatically increased the data visibility and benefits that ZoomInfo can offer its clients. In addition, its organic revenues reaccelerated for a fifth consecutive quarter and management significantly raised its earnings guidance.”

Based on our calculations, ZoomInfo Technologies Inc. (NASDAQ: ZI) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. ZI was in 35 hedge fund portfolios at the end of the first half of 2021, compared to 24 funds in the previous quarter. ZoomInfo Technologies Inc. (NASDAQ: ZI) delivered a 27.46% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.