Zeta Global (NASDAQ:ZETA) Stock Price Up 5.6% After Analyst Upgrade

Shares of Zeta Global Holdings Corp. (NASDAQ:ZETA) rose 5.6% on Thursday after Canaccord Genuity Group raised their price target on the stock from $17.00 to $20.00. Canaccord Genuity Group currently has a buy rating on the stock. Zeta Global traded as high as $17.47 and last traded at $17.34. Approximately 2,237,375 shares traded hands during trading, an increase of 21% from the average daily volume of 1,853,062 shares. The stock had previously closed at $16.42.

A number of other research firms have also recently issued reports on ZETA. William Blair reaffirmed an “outperform” rating on shares of Zeta Global in a report on Wednesday, February 28th. Needham & Company LLC raised their target price on Zeta Global from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Royal Bank of Canada started coverage on Zeta Global in a research report on Tuesday. They set an “outperform” rating and a $20.00 price target for the company. Bank of America increased their price objective on Zeta Global from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Canaccord Genuity Group raised Zeta Global to a “strong-buy” rating in a report on Tuesday, May 7th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $20.59.

Hedge Funds Weigh In On Zeta Global

Institutional investors have recently made changes to their positions in the company. Insight Wealth Strategies LLC acquired a new stake in Zeta Global during the fourth quarter valued at $922,000. George Kaiser Family Foundation increased its stake in shares of Zeta Global by 891.8% in the 4th quarter. George Kaiser Family Foundation now owns 237,383 shares of the company’s stock valued at $2,094,000 after purchasing an additional 213,448 shares in the last quarter. Legato Capital Management LLC acquired a new position in Zeta Global in the 4th quarter worth about $929,000. Vanguard Group Inc. boosted its position in Zeta Global by 6.6% during the third quarter. Vanguard Group Inc. now owns 15,915,616 shares of the company’s stock worth $132,895,000 after purchasing an additional 991,678 shares in the last quarter. Finally, Scalar Gauge Management LLC acquired a new stake in Zeta Global in the fourth quarter valued at approximately $6,411,000. 75.82% of the stock is owned by hedge funds and other institutional investors.

Zeta Global Stock Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -16.65 and a beta of 1.23. The firm has a fifty day simple moving average of $15.65 and a 200 day simple moving average of $12.00.

Zeta Global (NASDAQ:ZETA) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. Zeta Global had a negative net margin of 22.20% and a negative return on equity of 101.48%. The company had revenue of $195.00 million during the quarter, compared to analyst estimates of $187.16 million. During the same quarter in the previous year, the firm earned ($0.38) EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, analysts anticipate that Zeta Global Holdings Corp. will post -0.38 earnings per share for the current fiscal year.

About Zeta Global

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.