Zeta Global Stock Price Surges 4.3% - What to Expect Next

Zeta Global Holdings Corp. (NYSE:ZETA) experienced a significant uptick of 4.3% during mid-day trading on Friday. The stock reached a high of $22.86 before last being traded at $22.67. Approximately 3,329,290 shares exchanged hands during this time, which is an 11% decline from the average trading volume of 3,746,013 shares. The previous close for the stock was $21.73.

Analyst Ratings and Reports

Recent reports from various equity research analysts have been positive towards Zeta Global’s stock. Oppenheimer raised its price target for Zeta from $33.00 to $42.00, designating the company with an "outperform" rating in a note released on November 12. Similarly, Canaccord Genuity Group also increased its forecast, lifting the price target from $24.00 to $28.00 while maintaining a "buy" rating as of November 20. The Goldman Sachs Group initiated coverage on Zeta Global with a "neutral" rating and set a price target of $30.00. Royal Bank of Canada reiterated an "outperform" rating and gave Zeta a price objective of $43.00 in a report released on November 12. Craig Hallum also raised its target from $37.00 to $45.00 and rated the stock as a "buy." Currently, of the analysts who have evaluated the stock, four have assigned a hold rating, 11 rated it as a buy, and one has given a strong buy rating. MarketBeat data indicates that Zeta Global has a consensus rating of "Moderate Buy" with an average price target set at $37.86.

Current Financials

As of now, Zeta Global shows a debt-to-equity ratio of 0.41, a quick ratio of 3.32, and a current ratio of 3.32. The stock's 50-day moving average sits at $26.31, while its 200-day moving average is $23.37. The company recently released its quarterly earnings on November 11, reporting earnings per share (EPS) of -$0.09, which was below the consensus estimate of $0.17, missing by $0.26. Despite this, Zeta Global generated revenues of $268.30 million during this quarter, surpassing the estimate of $252.68 million. The net margin remains negative at 13.35%, with a return on equity of -45.22%. However, Zeta Global's year-over-year revenue increased by 42.0%. In the same quarter last year, it reported an EPS of -$0.27. Research analysts project that the company will post an EPS of -0.16 for the current fiscal year.

Insider Transactions

In related news, CFO Christopher E. Greiner purchased 7,975 shares of Zeta Global on November 18 at an average price of $18.80 per share, totaling $149,930. Following this purchase, he now holds 2,330,010 shares valued at approximately $43,804,188, representing a 0.34% increase in his holdings. This purchase was disclosed in an SEC filing. Additionally, CEO David Steinberg acquired 53,676 shares at an average price of $19.24, making his total investment $1,032,726.24. Following this, he owns 65,310 shares valued at around $1,256,564.40, a significant 461.37% increase in his holdings. Over the last 90 days, insiders bought a total of 129,901 shares of Zeta Global valued at $2,471,244, with insiders owning 25.54% of the company’s stock.

Institutional Investment Changes

Institutional investors and hedge funds have made alterations to their positions in Zeta Global recently. Wolff Wiese Magana LLC launched a new investment worth $26,000 during the third quarter. In the second quarter, Quest Partners LLC raised its position in Zeta Global by an impressive 1,718.9%, now owning 2,310 shares worth $41,000 after purchasing an additional 2,183 shares. Farther Finance Advisors LLC increased their stake by 3,885.7% during the third quarter and now holds 1,395 shares valued at $42,000. Covestor Ltd also amplified its position by 2,902.0%, owning 1,501 shares now worth $45,000. Advisors Asset Management Inc. acquired 2,227 shares, boosting its holdings by 104.1%, worth $66,000. In total, hedge funds and institutional investors currently hold 87.75% of Zeta Global’s stock.

About Zeta Global

Zeta Global Holdings Corp. operates a data-driven cloud platform that helps enterprises with consumer intelligence and marketing automation both domestically and internationally. The Zeta Marketing Platform utilizes advanced machine learning algorithms to analyze billions of data points for predicting consumer intent, while the Consumer Data platform consolidates disparate data into a single view of consumer identity, profiles, behaviors, and purchasing intents.

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