Go-to-market intelligence provider ZoomInfo (NASDAQ:GTM) will be reporting results this Wednesday after market close. Here’s what to expect.
ZoomInfo beat analysts’ revenue expectations last quarter, reporting revenues of $310.4 million, up 1.2% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ annual recurring revenue estimates.
Is ZoomInfo a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ZoomInfo’s revenue to decline 5.8% year on year, a reversal from the 4.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. ZoomInfo has a history of exceeding Wall Street’s expectations.
Looking at ZoomInfo’s peers in the sales and marketing software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. DoubleVerify delivered year-on-year revenue growth of 9%, beating analysts’ expectations by 1.1%, and GoDaddy reported revenues up 6%, topping estimates by 1.1%. DoubleVerify’s stock price was unchanged after the resultswhile GoDaddy was up 10.7%.
Read our full analysis of DoubleVerify’s results here and GoDaddy’s results here.
There has been positive sentiment among investors in the sales and marketing software segment, with share prices up 4.2% on average over the last month. ZoomInfo is up 14.8% during the same time and is heading into earnings with an average analyst price target of $4.58 (compared to the current share price of $4.31).
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