ZoomInfo Technologies: A Look into the 21% Stock Plunge Due to Guidance Concerns
Friday, 10 May 2024, 22:47
Stock Plunge Due to Weak Guidance
A decent first-quarter report is overshadowed by a weak outlook. Stock investors tend to be picky, and if a company's forecasts come in under expectations, it can be punished by the market.
A pair of beats
ZoomInfo managed to grow its revenue and adjusted net income, which topped analyst estimates.
Second-quarter guidance was weak
Despite beating Q1 estimates, ZoomInfo's guidance for the upcoming quarters was perceived as weak, leading to a 21% stock drop.
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