ZoomInfo Technologies (ZI) has acquired Insent, which is a conversational marketing platform. ZoomInfo sells access to its database of information about business people and companies to sales, marketing and recruiting professionals.
The financial terms of the deal have not been disclosed yet. Markedly, the buyout is not likely to have any material impact on the company’s finances in 2021, ZoomInfo Technologies said.
The integration of Insent’s chat function into ZoomInfo’s workflow portfolio will bolster the latter’s chat function capabilities. It will provide personalized experiences to users, thereby helping sales and marketing teams target prospects. The combined new solution will be offered in the third quarter to the new and existing customers as ZoomInfo Chat.
ZoomInfo Technologies CEO Henry Schuck said, “The acquisition of Insent will combine chat with ZoomInfo’s dynamic IP-to-company graph and insights. Marketers will be able to instantly identify previously anonymous companies that are on their websites, route prospects to the right account owners, and arm them with ZoomInfo’s key intelligence about their buyers.” (See ZoomInfo Technologies stock analysis on TipRanks)
On May 4, Stephens analyst Ryan MacWilliams maintained a Buy rating and a price target of $70 (56.5% upside potential).
MacWilliams said, “Overall, we are bullish on ZI as it captures the digital transformation of sales and expands internationally with increased hiring/investment, along with potential M&A, over the next few quarters.”
The consensus among analysts is a Strong Buy based on 11 Buys and 3 Holds. The ZoomInfo average analyst price target of $65 implies a 45.3% upside potential from the current levels. Shares have gained 10.7% over the past six months.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on ZoomInfo as 7.2% of investors who have portfolios on TipRanks have increased their exposure to ZI stocks over the past 30 days.
Related News :
Stitch Fix Posts Strong Revenues in Q3, Shares Surge 16%
Moderna Inks Deal with Medison Pharma; Shares Up 6.6%
Vail Resorts Posts Stronger-Than-Expected Quarterly Results