Zeta Global (NYSE:ZETA) Shares Gap Down on Disappointing Earnings

Shares of Zeta Global Holdings Corp. (NYSE:ZETA) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $36.74, but opened at $33.30. Zeta Global shares last traded at $32.12, with a volume of 2,552,031 shares.

The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.26). Zeta Global had a negative net margin of 13.35% and a negative return on equity of 61.25%. The business had revenue of $268.30 million for the quarter, compared to analyst estimates of $252.68 million. During the same quarter last year, the business earned ($0.27) EPS. Zeta Global’s revenue for the quarter was up 42.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZETA shares. Roth Mkm increased their target price on Zeta Global from $33.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Craig Hallum increased their target price on Zeta Global from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays raised their price target on Zeta Global from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday. Oppenheimer raised their price target on Zeta Global from $33.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, B. Riley raised their price target on Zeta Global from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $40.23.

Institutional Investors Weigh In On Zeta Global

Several hedge funds have recently modified their holdings of the stock. Wolff Wiese Magana LLC purchased a new stake in Zeta Global in the 3rd quarter worth about $26,000. Farther Finance Advisors LLC lifted its stake in Zeta Global by 3,885.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,395 shares of the company’s stock worth $42,000 after acquiring an additional 1,360 shares in the last quarter. Covestor Ltd lifted its stake in Zeta Global by 2,902.0% in the 3rd quarter. Covestor Ltd now owns 1,501 shares of the company’s stock worth $45,000 after acquiring an additional 1,451 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Zeta Global by 104.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,227 shares of the company’s stock worth $66,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Zeta Global by 1,718.9% in the 2nd quarter. Quest Partners LLC now owns 2,310 shares of the company’s stock worth $41,000 after acquiring an additional 2,183 shares in the last quarter. 75.82% of the stock is owned by hedge funds and other institutional investors.

Zeta Global Stock Performance

The firm has a 50 day moving average of $28.90 and a 200-day moving average of $22.48. The stock has a market capitalization of $3.90 billion, a PE ratio of -25.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.98 and a current ratio of 1.98.

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.