Morgan Stanley Lowers Zeta Global (NYSE:ZETA) Price Target to $23.00

Zeta Global (NYSE:ZETA) had its target price dropped by Morgan Stanley from $26.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 33.33% from the stock’s current price.

Several other brokerages have also recently weighed in on ZETA. The Goldman Sachs Group started coverage on Zeta Global in a report on Wednesday, December 11th. They issued a “neutral” rating and a $30.00 target price for the company. Roth Mkm upped their price objective on shares of Zeta Global from $33.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and set a $43.00 target price on shares of Zeta Global in a research report on Tuesday, December 10th. Bank of America upped their price target on shares of Zeta Global from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays lifted their price objective on shares of Zeta Global from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.43.

Zeta Global Stock Performance

NYSE:ZETA opened at $17.25 on Monday. The firm has a market capitalization of $4.10 billion, a PE ratio of -24.64 and a beta of 1.17. The stock’s fifty day moving average is $21.54 and its 200 day moving average is $23.85. Zeta Global has a fifty-two week low of $8.76 and a fifty-two week high of $38.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.32 and a current ratio of 3.32.

Zeta Global (NYSE:ZETA) last announced its earnings results on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.26). The business had revenue of $268.30 million for the quarter, compared to analysts’ expectations of $252.68 million. Zeta Global had a negative net margin of 13.35% and a negative return on equity of 45.22%. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) EPS. On average, sell-side analysts anticipate that Zeta Global will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Zeta Global news, Director Imran Khan purchased 55,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $18.96 per share, with a total value of $1,042,800.00. Following the completion of the purchase, the director now owns 55,000 shares in the company, valued at approximately $1,042,800. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Steven H. Gerber acquired 13,250 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $18.55 per share, with a total value of $245,787.50. Following the purchase, the chief operating officer now owns 2,940,811 shares in the company, valued at $54,552,044.05. This represents a 0.45 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 129,901 shares of company stock worth $2,471,244. Corporate insiders own 25.54% of the company’s stock.

Hedge Funds Weigh In On Zeta Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZETA. Wolff Wiese Magana LLC acquired a new position in shares of Zeta Global during the 3rd quarter valued at about $26,000. Quest Partners LLC boosted its holdings in Zeta Global by 1,718.9% in the 2nd quarter. Quest Partners LLC now owns 2,310 shares of the company’s stock valued at $41,000 after purchasing an additional 2,183 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Zeta Global by 3,885.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,395 shares of the company’s stock valued at $42,000 after buying an additional 1,360 shares during the period. Covestor Ltd increased its holdings in shares of Zeta Global by 2,902.0% during the 3rd quarter. Covestor Ltd now owns 1,501 shares of the company’s stock worth $45,000 after buying an additional 1,451 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Zeta Global by 104.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,227 shares of the company’s stock valued at $66,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

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.