Zeta Global (NASDAQ:ZETA) Shares Gap Up on Analyst Upgrade

Zeta Global Holdings Corp. (NASDAQ:ZETA) gapped up prior to trading on Thursday after Bank of America raised their price target on the stock from $30.00 to $36.00. The stock had previously closed at $29.63, but opened at $32.00. Bank of America currently has a buy rating on the stock. Zeta Global shares last traded at $30.06, with a volume of 1,216,736 shares trading hands.

ZETA has been the topic of a number of other reports. Truist Financial reissued a “buy” rating and issued a $30.00 price target (up from $23.00) on shares of Zeta Global in a research note on Thursday, August 1st. B. Riley reiterated a “buy” rating and issued a $30.00 price objective (up previously from $24.00) on shares of Zeta Global in a report on Thursday, August 1st. DA Davidson lifted their target price on Zeta Global from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada raised their price objective on shares of Zeta Global from $23.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Barclays increased their target price on shares of Zeta Global from $18.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $31.50.

Hedge Funds Weigh In On Zeta Global

Hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors purchased a new position in shares of Zeta Global in the 4th quarter valued at $23,560,000. Ophir Asset Management Pty Ltd purchased a new position in shares of Zeta Global during the fourth quarter worth about $19,682,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Zeta Global by 1,444.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,847,610 shares of the company’s stock worth $32,610,000 after purchasing an additional 1,728,005 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Zeta Global during the second quarter worth about $28,698,000. Finally, Granahan Investment Management LLC lifted its holdings in shares of Zeta Global by 15.3% in the 4th quarter. Granahan Investment Management LLC now owns 8,112,729 shares of the company’s stock valued at $71,554,000 after purchasing an additional 1,076,208 shares during the last quarter. 75.82% of the stock is currently owned by hedge funds and other institutional investors.

Zeta Global Trading Up 1.7 %

The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of -28.34 and a beta of 1.26. The business has a 50-day moving average of $24.55 and a 200-day moving average of $18.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.98 and a current ratio of 1.98.

Zeta Global (NASDAQ:ZETA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.26). The firm had revenue of $227.80 million during the quarter, compared to analyst estimates of $212.44 million. Zeta Global had a negative net margin of 17.76% and a negative return on equity of 79.03%. Zeta Global’s revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) earnings per share. As a group, research analysts forecast that Zeta Global Holdings Corp. will post -0.43 EPS for the current year.

Zeta Global Company Profile

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. The company's Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent.