Zeta Global (NYSE:ZETA) Sees Large Volume Increase Following Analyst Upgrade

Zeta Global Holdings Corp. (NYSE:ZETA) saw an uptick in trading volume on Wednesday after Barclays raised their price target on the stock from $28.00 to $32.00. Barclays currently has an equal weight rating on the stock. 4,644,431 shares changed hands during trading, an increase of 74% from the previous session’s volume of 2,675,837 shares.The stock last traded at $26.78 and had previously closed at $28.22.

A number of other research analysts also recently commented on ZETA. Craig Hallum increased their target price on Zeta Global from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday. Truist Financial reissued a “buy” rating and issued a $42.00 price objective (up from $35.00) on shares of Zeta Global in a research note on Tuesday. Morgan Stanley boosted their target price on shares of Zeta Global from $30.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday. KeyCorp started coverage on shares of Zeta Global in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $40.00 price target for the company. Finally, DA Davidson upped their price objective on Zeta Global from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zeta Global currently has an average rating of “Buy” and a consensus price target of $40.23.

Institutional Investors Weigh In On Zeta Global

Several hedge funds have recently modified their holdings of the business. FMR LLC raised its position in shares of Zeta Global by 84,132.4% in the 3rd quarter. FMR LLC now owns 3,561,347 shares of the company’s stock worth $106,235,000 after acquiring an additional 3,557,119 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Zeta Global by 1,444.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,847,610 shares of the company’s stock valued at $32,610,000 after purchasing an additional 1,728,005 shares during the last quarter. William Blair Investment Management LLC bought a new position in Zeta Global in the second quarter worth about $28,698,000. Renaissance Technologies LLC raised its holdings in Zeta Global by 85.4% in the second quarter. Renaissance Technologies LLC now owns 2,019,000 shares of the company’s stock worth $35,635,000 after purchasing an additional 929,800 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Zeta Global by 358.3% in the 2nd quarter. Millennium Management LLC now owns 1,189,295 shares of the company’s stock valued at $20,991,000 after buying an additional 929,792 shares in the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.

Zeta Global Stock Performance

The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.85. The stock has a market cap of $5.83 billion, a PE ratio of -37.73 and a beta of 1.29. The business’s 50-day moving average price is $29.05 and its 200-day moving average price is $22.51.

Zeta Global (NYSE:ZETA) last released its quarterly 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). Zeta Global had a negative return on equity of 61.25% and a negative net margin of 13.35%. The firm had revenue of $268.30 million during the quarter, compared to analysts’ expectations of $252.68 million. During the same period in the prior year, the firm posted ($0.27) earnings per share. Zeta Global’s revenue for the quarter was up 42.0% compared to the same quarter last year. As a group, equities research analysts expect that Zeta Global Holdings Corp. will post -0.45 earnings per share for the current fiscal 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.