ZoomInfo Technologies ( ZI Quick Quote ZI - Free Report) recently introduced Privacy Clusters as a part of its premium Streaming Intent offering. It enables organizations to build data-compliant go-to-market strategies by producing business intent signals without using Cookies or Internet Protocol (IP) addresses. The new solution enhances data privacy by delivering 100% Cookies-free tracking of company-level purchasing intent signals which will help companies target prospective customers in a timely manner. It maintains the anonymous status of individual customers to respect their privacy. Moreover, it is compliant with all privacy legislations, such as the General Data Protection Regulation and the California Consumer Privacy Act, which gives its customers compliance assurance and hold over their own data. Strong Product Portfolio Drives Growth Notably, ZoomInfo’s shares have surged 35.6% year to date against the Zacks Computer - Integrated Systems industry’s decline of 3.8%.
This outperformance is primarily driven by the growing traction of the company’s go-to-market intelligence platform due to elevated consumer demand for data and insights. The company also benefits from its resilient subscription-based model amid the coronavirus outbreak. Moreover, ZoomInfo’s top line in the third quarter of fiscal 2020 was aided by solid demand for its FormComplete, intent and InboxAI product with an increase in adoption of 33%, 67% and 40%, respectively. Further, the company launched ZoomInfo Engage, a sales engagement platform, which enhances workplace optimization by providing an automated sales dialer with built-in email automation and technology. The new platform is expected to drive incremental growth and boost the company’s customer base. ZoomInfo also introduced several enhancements to its platform such as a real-time intelligence feed, mobile experience improvements to Quick Search, and redesigns of contact profile alerts and the homepage. The company anticipates these innovations to fuel user engagement on its platform. Notably, the company ended the third quarter with more than 720 customers, with $100K or greater in annual contract value, compared to 650 customers in the second quarter. Moreover, the company recently acquired Clickagy, an AI-powered buyer intent signals provider and EverString, a provider of NLP and ML-driven company data for sale and marketing teams. These acquisitions are likely to drive long-term growth for the company and expand its enterprise clientele. Zacks Rank and Key Picks Currently, ZoomInfo carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Cadence Design Systems ( CDNS Quick Quote CDNS - Free Report) , Microsoft ( MSFT Quick Quote MSFT - Free Report) and NVIDIA ( NVDA Quick Quote NVDA - Free Report) , all carrying a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The long-term earnings growth rate for Cadence, Microsoft and NVIDIA is currently pegged at 15.4%, 12.5%, and 18.3%, respectively. Breakout Biotech Stocks with Triple-Digit Profit Potential
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