State of New Jersey Common Pension Fund D Acquires New Position in Zeta Global Holdings Corp. (NASDAQ:ZETA)

State of New Jersey Common Pension Fund D bought a new position in shares of Zeta Global Holdings Corp. (NASDAQ:ZETA) during the second quarter, HoldingsChannel.com reports. The firm bought 108,573 shares of the company’s stock, valued at approximately $1,916,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Zeta Global by 2.6% during the first quarter. Vanguard Group Inc. now owns 16,717,605 shares of the company’s stock worth $182,723,000 after acquiring an additional 431,077 shares during the period. Granahan Investment Management LLC grew its stake in Zeta Global by 15.3% during the 4th quarter. Granahan Investment Management LLC now owns 8,112,729 shares of the company’s stock worth $71,554,000 after purchasing an additional 1,076,208 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Zeta Global by 2.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,030,639 shares of the company’s stock worth $33,125,000 after purchasing an additional 77,962 shares during the period. Capital World Investors acquired a new stake in Zeta Global in the 4th quarter valued at about $23,560,000. Finally, Ophir Asset Management Pty Ltd purchased a new position in shares of Zeta Global in the 4th quarter valued at about $19,682,000. 75.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZETA has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of Zeta Global from $23.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. B. Riley reissued a “buy” rating and issued a $30.00 price objective (up from $24.00) on shares of Zeta Global in a research report on Thursday, August 1st. Bank of America lifted their price objective on shares of Zeta Global from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Barclays increased their target price on Zeta Global from $18.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $30.00 price target (up from $23.00) on shares of Zeta Global in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zeta Global has a consensus rating of “Buy” and an average target price of $29.75.

Zeta Global Trading Up 1.9 %

ZETA opened at $28.94 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. Zeta Global Holdings Corp. has a 52 week low of $7.38 and a 52 week high of $29.28. The business’s 50 day moving average is $23.96 and its two-hundred day moving average is $17.57. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of -27.30 and a beta of 1.26.

Zeta Global (NASDAQ:ZETA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.26). The business 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%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) earnings per share. On average, research analysts predict 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.