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ZoomInfo (ZI), Sales Confidence Tie Up to Offer Sales Solutions

Zacks Equity Research
·4-min read

ZoomInfo Technologies ZI recently announced that it is collaborating with Sales Confidence to enable revenue professionals in the U.K. and worldwide to benefit from ZoomInfo’s various solutions.

ZoomInfo’s recent partnership with Sales Confidence is in sync with its strategy to invest in strengthening its presence in Europe. The company’s international footprint is predominantly driven by Western Europe and Canada, with almost zero exposure to Eastern Europe.

Sales Confidence is one of the most valuable sales communities in the world, and ZoomInfo will make its debut at the SaaSGrowth 2022 as a Sales Confidence titanium sponsor.

SaaSGrowth 2022 is Europe’s topmost business-to-business sales, revenue and marketing leadership conference, where more than 1,500 enterprises will participate. ZoomInfo will showcase its solutions at this conference, which will help the company in expanding its footprint in Europe further.

ZoomInfo Technologies Inc. Price and Consensus

ZoomInfo Technologies Inc. Price and Consensus
ZoomInfo Technologies Inc. Price and Consensus

ZoomInfo Technologies Inc. price-consensus-chart | ZoomInfo Technologies Inc. Quote

ZoomInfo Expands in Europe to Expand Customer Base

The current global geopolitical scenario and macroeconomic conditions have impacted the tech industry as a whole. Negative sentiments amid investors for the overall market have impacted the share price movement of ZoomInfo.

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Rising inflation has impacted the operating expenses of the company negatively, which resulted in the company incurring losses in the last reported quarter. This has also hurt the company’s share prices.

Also, strong competition from the likes of TechTarget TTGT has been impacting the share price movement negatively.

TechTarget caters to various IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and improve revenues by reducing operating expenses. Amid current macro-economic turmoil like inflation, TechTarget’s services are in high demand in the market, and the company is fighting with ZoomInfo for market share continuously.

In the year-to-date period, ZoomInfo’s shares have fallen 42.8% compared with the Zacks Computer - Integrated Systems decline of 7.6%

Amid events such as the covid pandemic and the Russia-Ukraine war, the world has been experiencing the fourth industrial revolution, which is data driven. As such, the revolution ushers in new technologies like AI, machine learning, IoT and various cloud solutions, which are being utilized in various fields like medicine, manufacturing or business services.

The pandemic and the war have accelerated the adoption of digital transformation, and ZoomInfo is capitalizing on this to drive top-line growth.

ZoomInfo is leveraging AI and machine learning to provide a cloud-based operating system to revenue professionals. The company is launching various new solutions, including DealSignal, ZoomInfo data cloud, and the Revel platform that provides accurate insights information on the organizations that sales, marketing and recruiting professionals target.

ZoomInfo is currently committed to expanding its operations in Europe, as evident from its recent office premises in London. The current war between Russia and Ukraine has amplified the requirement for AI and hybrid cloud solutions, specifically in the rest of Europe, which will protect the data of enterprises and aid them in running operations even amid disasters like this. This, in turn, will protect shareholders' wealth in the end.

As a result of its unique offering, ZoomInfo is seeing increasing adoption of its platform among new and existing customers. In fact, in the last reported quarter, ZoomInfo’s customers grew exponentially by 100%.

ZoomInfo has gained certain notable customers, including Alphabet GOOGL and Shopify SHOP.

ZoomInfo has recently signed an eight-figure deal with Alphabet, which will drive ZoomInfo’s revenues in the coming quarters. Alphabet division Google’s revenue acceleration team is leveraging ZoomInfo’s operations OS platform to increase their revenues.

Shopify has signed a multi-year deal with ZoomInfo, which will help Shopify to improve outbound prospecting effectiveness and automatically enhance inbound lead information. This, in turn, will aid the company in attracting new users and driving revenue growth.

As ZoomInfo’s customers are rapidly increasing, this will contribute to the top-line growth in the long term, thus impacting shareholders' wealth positively.

ZoomInfo currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.


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