Here’s Why ZoomInfo Technologies Inc. (ZI) Stock is Steadily Increasing in Aftermarket

ZoomInfo Technologies Inc. (ZI), a cloud-based go-to-market intelligence platform for sales and marketing teams, has increased 3.83% in aftermarket trading session and consequently, was changing hands at $70.98 when last checked. The increase has come amid the company’s announcement that its quarter 3 earnings and revenue have surpassed the estimates. On Monday, ZI closed the day at $68.36 after a steady increase of 1.70% during regular trading hours.

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Why ZI increased?

On 1st November, ZI reported the financial result for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company had cash and cash equivalents of $196.8 million on 30th September. The total revenue posted by the company during the period was $197.6 million against $123.4 million for the same period of 2020. The total operating expenses for the three months were $139.5 million against $78.3 million for the same period of 2020. The company bore a net loss of $40.9 million against the net income of $11.1 million for the same period of 2020.

Executive Commentary

Henry Schuck, Zi Founder and CEO, while commenting on the results, said that the company delivered some exceptional results during the quarter of accelerating revenue growth and strong free cash flow generation. He further said that the company would continue to execute its plans across all areas of the business.

Recipient of Comparably awards

On 14th October, ZI announced that it had received Comparably Awards for Best Compensation and Happiest Employees among large companies. Comparably, while considering 60,000 companies for the quarterly best place to work awards, placed ZoomInfo among the top 15 large companies for both best compensation and happiest employees. As a result, ZoomInfo elevated more than 10 spots on each of the lists from 2020.

Best No.2 workplace award

On 7th October, ZI announced that it had been named by The Oregonian as the No. 2 workplace among large companies in the Oregon/Southwest Washington region. Henry Schuck said that it is an honour to be recognized among the best and achieve the best workplace award. He said that the management is committed to ensuring that ZoomInfo is the top employer around the world.

Future for ZI

During the previous 6 months, ZI has surged more than 40% on the back of positive developments associated with the company. Analysts are hopeful that the future for ZoomInfo looks quite sanguine keeping in mind the recent accolades achieved by the company.