Jim Cramer’s Lightning Round: 7 Stocks to Watch

3. ZoomInfo Technologies Inc. (NASDAQ:ZI)

Number of Hedge Fund Holders: 37

When a caller asked about ZoomInfo Technologies Inc. (NASDAQ:ZI), Cramer said, “Not enough specialty, not enough move. Let’s pass on that.”

ZoomInfo (NASDAQ:ZI) offers a cloud-based platform that provides sales and marketing teams with intelligence on organizations and professionals, helping users identify target customers, track buying signals, and engage through automated tools. In the third quarter, it saw continued growth, particularly in its move up-market, supported by the success of ZoomInfo Copilot and the expansion of its operations.

The company reported solid financial results, with net revenue retention remaining stable for the third consecutive quarter. Additionally, it saw an increase in its customer base, with 1,809 customers now having an annual contract value of $100,000 or more, reflecting a 12-customer increase from the previous quarter. For the third quarter, the company posted a GAAP operating income of $43.5 million and GAAP revenue of $303.6 million, marking a 3% decline in revenue year-over-year.

For the full year 2024, ZoomInfo (NASDAQ:ZI) forecasts GAAP revenue between $1.201 billion and $1.204 billion, with adjusted operating income ranging from $416 million to $418 million. It expects non-GAAP net income to be between $0.92 and $0.93 per share, based on 378 million weighted average diluted shares outstanding.