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Is ZoomInfo Technologies (ZI) a Strong Long-Term Investment?

Baron Funds, an investment management company, released its “Baron Asset Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (institutional shares) declined 2.07% compared to a 0.65% decline for the Russell Midcap Growth Index. Differences in sector weights led to the underperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds discussed stocks like ZoomInfo Technologies Inc. (NASDAQ:ZI) in the Q3 2022 investor letter. Headquartered in Vancouver, Washington, ZoomInfo Technologies Inc. (NASDAQ:ZI) is a go-to-market-intelligence platform provider. On October 21, 2022, ZoomInfo Technologies Inc. (NASDAQ:ZI) stock closed at $44.87 per share. One-month return of ZoomInfo Technologies Inc. (NASDAQ:ZI) was 12.06% and its shares lost 35.25% of their value over the last 52 weeks. ZoomInfo Technologies Inc. (NASDAQ:ZI) has a market capitalization of $18.102 billion.

Baron Funds made the following comment about ZoomInfo Technologies Inc. (NASDAQ:ZI) in its Q3 2022 investor letter:

ZoomInfo Technologies Inc. (NASDAQ:ZI) provides business intelligence software that companies use to inform their go-to-market strategy, with modules focused on areas including sales, marketing, operations, and talent. Its shares gained following solid quarterly results and strong forward guidance for revenue growth and operating profit. We continue to believe that ZoomInfo has the potential to be much larger over time, as it grows into its ever-expanding $70 billion total addressable market. We also believe ZoomInfo is well positioned to expand further into adjacent markets, such as marketing and talent acquisition software.”

Photo by Campaign Creators on Unsplash

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ZoomInfo Technologies Inc. (NASDAQ:ZI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held ZoomInfo Technologies Inc. (NASDAQ:ZI) at the end of the second quarter, which was 51 in the previous quarter.

We discussed ZoomInfo Technologies Inc. (NASDAQ:ZI) in another article and the shared top ten technology stocks to buy according to billionaire Louis Bacon. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds.

 

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Disclosure: None. This article is originally published at Insider Monkey.